9:15 a.m. regular meeting 9:20 a.m. executive session 10:00 a.m. … · 2016-06-23 · workshop on...
TRANSCRIPT
AGENDA
REGULAR MEETING OF THE
UTAH STATE UNIVERSITY BOARD OF TRUSTEES
Via Teleconference
June 24, 2016
9:15 a.m. Regular Meeting
9:20 a.m. Executive Session
10:00 a.m. Regular Meeting
Introductory Items
Chair’s Report
President’s Report
Consent Agenda
Action Agenda
CHAIR’S REPORT
A. Information Items
1. Committee assignments for Trustee Waddoups
2. Faculty Achievements and Activities report for 2015
These may be accessed on the Board of Trustees webpage under this meeting’s
agenda: http://www.usu.edu/trustees/agenda/2016/
3. Workshop on August 19, 2016 to be hosted by Trustee Johnson at Futura
Industries, Clearfield, Utah
4. Date of the next Board of Trustees Meeting, October 21, 2016 to be held in Logan,
Utah
Board of Trustees Committee Assignments
2016 - 2017
June 2016
1. Executive Committee
Ronald W. Jibson, Chair Scott R. Watterson, Vice Chair Jody K. Burnett Susan D. Johnson Frank Peczuh, Jr. 2. Athletics Committee
Lane L. Thomas, Chair J. Scott Nixon Ashley Waddoups Scott R. Watterson (Staff Support: John Hartwell) 3. Audit Committee
J. Scott Nixon, Chair Jody K. Burnett
Mark K. Holland Ronald W. Jibson (Staff Support: David Cowley and Jodi Bailey)
4. Honorary Degrees and Awards Screening Committee
Jody K. Burnett, Chair Linda Clark Gillmor Karen H. Huntsman Ashley Waddoups Lane L. Thomas Ronald W. Jibson (ex-officio) Scott R. Watterson (ex-officio) (Staff Support: Sydney Peterson)
5. Marketing/Public Relations Committee
Mark K. Holland, Chair Linda Clark Gillmor Susan D. Johnson Ashley Waddoups (Staff Support: Tim Vitale, Sydney Peterson)
6. Regional Campus System Committee
Frank Peczuh, Jr., Chair Linda Clark Gillmor Ronald W. Jibson (Staff Support: Noelle Cockett and Robert Wagner)
PRESIDENT’S REPORT
I. PRESIDENT’S REPORT
B. Recent Events
1. Remarks at Alumni Hall of Honor Luncheon – April 9, 2016
2. Merlin Olsen Fund Dinner – April 9, 2016
3. Utah Campus Compact Awards Luncheon, President’s Home – April 11, 2016
4. Remarks at Research Gala – April 11, 2016
5. Seely-Hinckley Scholarship Luncheon – April 12, 2016
6. Remarks at Salt Lake Chamber Giant in Our City – Salt Lake City, April 12, 2016
7. NCAA President Mark Emmert Visit to Utah State University – April 13-14, 2016
8. Present at Robins Awards – April 16, 2016
9. Remarks at Emeriti Luncheon – April 18, 2016
10. USUSA Incoming/Outgoing Officers Breakfast, President’s Home – April 19, 2016
11. Aggie Passport Reception, President’s Home – April 20, 2016
12. USU-Southwest Commencement – Nephi, April 21, 2016
13. Remarks at Sunrise Session – Presenter: Student IGNITE Research Presenters –
Salt Lake City, April 22, 2016
14. USU-Brigham City Commencement – Brigham City, April 22, 2016
15. USU-Tooele Commencement – Tooele, April 23, 2016
16. Northwest Commission on Colleges and Universities Executive Committee Meeting
– Portland, Oregon, April 25-26, 2016
17. NCAA Board of Directors Meeting – Indianapolis, Indiana – April 27-28, 2016
18. USU-Moab Commencement – Moab, April 28, 2016
19. USU-Blanding Commencement – Blanding, April 29, 2016
20. USU Eastern Commencement – Price, April 30, 2016
21. USU-Uintah Basin Commencement – Vernal, April 30, 2016
22. Council of Presidents – Salt Lake City, May 3, 2016
23. Utah Campus Compact – Salt Lake City, May 3, 2016
24. Governor’s Leadership in the Arts Awards Luncheon – Salt Lake City, May 5, 2016
25. USU Board of Trustees – May 6, 2016
26. USU Graduate Commencement and Hooding Ceremony – May 6, 2016
27. President’s Commencement Dinner – May 6, 2016
28. USU Undergraduate Commencement Ceremony – May 7, 2016
C. Upcoming Events
1. Board of Regents – Snow College, Ephraim, May 20, 2016
2. Salt Lake Chamber Board of Governors – Salt Lake City, May 24, 2016
3. Mountain West Conference Board of Directors – La Jolla, California, June 6-7, 2016
4. Welcome Remarks at Swenson House Kickoff – June 10, 2016
5. Questar Leadership Training Dinner – June 12, 2016
6. Remarks at Questar Leadership Training – June 13, 2016
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7. Salt Lake Chamber Board of Governors Retreat – Salt Lake City, June 14, 2016
8. Northwest Commission on Colleges and Universities Board of Commissioners
Meetings – Kirkland, Washington, June 21-23, 2016
9. USU Board of Trustees – June 24, 2016
CONSENT AGENDA
1. Minutes from the Executive Session held on May 6, 2016
2. Minutes from the Regular Meeting held on May 6, 2016
3. Certificate of Treasurer – 2016-02 – February
4. Certificate of Treasurer – 2016-03 – March
5. Contract/Grant Proposals and Awards – 2016-04 - April
6. Contract/Grant Proposals and Awards – 2016-05 - May
7. Delegation/Administrative Reports – 2016-03-25 to 2016-04-22
8. Delegation/Administrative Reports – 2016-04-22 to 2016-05-20
9. Faculty and Staff Adjustments
10. Report of Investments – 2016-02 – February
11. Report of Investments – 2016-03 – March
12. USU Policy 105.2.1(2) Athletics Council
13. USU Policy 402.12.7 Name change for the Undergraduate Faculty Advisor of the Year
award to Undergraduate Faculty Mentor of the Year award
14. USU Policy 405.12.3 College Faculty Appeals Committee (CFAC)
15. Utah State University Research Foundation – Appointment – Dr. Jagath Kaluarachchi
16. Utah State University Research Foundation – Appointment – Dr. Maura Hagan
EXECUTIVE SESSION
UTAH STATE UNIVERSITY BOARD OF TRUSTEES
May 6, 2016
Minutes of the Executive Session of the Utah State University Board of Trustees held at Utah
State University, Douglas D. Anderson Executive Boardroom, Huntsman Hall, commencing at
9:10 a.m.
MEMBERS PRESENT
Ronald W. Jibson Chair
Scott R. Watterson Vice Chair
Jody K. Burnett
Linda Clark Gillmor
Mark K. Holland
Karen H. Huntsman
Susan D. Johnson
J. Scott Nixon
Frank Peczuh
Lane L. Thomas
Ashley Waddoups
MEMBERS EXCUSED
UNIVERSITY REPRESENTATIVES PRESENT
Stan L. Albrecht President
Mica McKinney University Counsel
Sydney M. Peterson Chief of Staff and Secretary to the Board of Trustees
Chair Jibson conducted the meeting.
Personnel, property, and legal issues were discussed.
The Executive Session adjourned 9:55 a.m.
___________________________________ __________________________________
Ronald W. Jibson, Chair Sydney M. Peterson, Secretary
________________________________
Date Approved
REGULAR MEETING
UTAH STATE UNIVERSITY BOARD OF TRUSTEES
Utah State University, Douglas D. Anderson Executive Boardroom, Huntsman Hall, Logan, Utah
May 6, 2016
Minutes of the Regular Meeting of the Utah State University Board of Trustees held in the
Douglas D. Anderson Executive Boardroom, Huntsman Hall, commencing at 9:02 a.m.
MEMBERS PRESENT
Ronald W. Jibson Chair
Scott R. Watterson Vice Chair
Jody K. Burnett
Mark K. Holland
Karen H. Huntsman
Susan D. Johnson
J. Scott Nixon
Frank Peczuh, Jr.
Lane L. Thomas
Ashley Waddoups
UNIVERSITY REPRESENTATIVES PRESENT
Stan L. Albrecht President
Neil Abercrombie Director, Government Relations
John C. Allen Dean, College of Humanities and Social Sciences
Jodi Bailey Chief Audit Executive
Carolyn Brittain Staff Assistant
Noelle E. Cockett Executive Vice President and Provost
David T. Cowley Vice President for Business and Finance
Amanda Davis President-Elect, Professional Employees Association
Robert R. Gillies Professor, Department of Plants, Soils and Climate
Trisha Hunsaker Vice President, Classified Employees Association
Paul G. Johnson Head, Department of Plants, Soils and Climate
Mica McKinney General Counsel
Mark McLellan Vice President, Research and Dean of Graduate Studies
Deb Megill Classified Employees Association
James D. Morales Vice President for Student Affairs
Joe Peterson Chancellor, USU Eastern
Sydney M. Peterson Chief of Staff and Board of Trustees Secretary
Ken White Vice President of Agriculture and Education, Dean, College of
Agriculture and Applied Science
Larry M. Walther Acting Dean, Jon M. Huntsman School of Business and Head,
School of Accountancy
Vincent Wickwar President-Elect, Faculty Senate
Tim Vitale Director, Public Relations
OTHERS PRESENT
Kevin Opsahl The Herald Journal
Teresa Theurer Utah State Board of Regents
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Chair Jibson called the regular meeting to order noting that this is an exciting time of year on
campus.
Larry Walther, Acting Dean, Jon M. Huntsman School of Business, welcomed the Trustees and
thanked them for all they do. This beautiful building “Huntsman Hall” was graciously funded by
70 percent private donations. He acknowledged Jon M. and Karen H. Huntsman for their
generous support.
I. CHAIR’S REPORT
A. Letter of Commendation and Appreciation to Trevor Sean Olsen
Chair Jibson shared his gratitude and respect for outgoing Trustee Olsen and read his
Resolution of Appreciation and Commendation (Appendix A). President Albrecht added
his praise and noted that he will always treasure their friendship.
Trustee Burnett recommended that in accordance with 52-4-205 of the Utah Code the Trustees go
into a closed Executive Session for the sole purpose of discussing the character, professional
competence, or physical or mental health of an individual, pending or reasonably imminent
litigation. Trustee Watterson seconded the motion. The voting was unanimous in the affirmative.
Chair Jibson called the Regular Meeting back to order at 10:02 a.m. by once again welcoming
those in attendance and thanking those participating in the meeting.
B. USUSA Report – Ashley Waddoups
Recently elected Student Body President Waddoups introduced Lizie Allen and read her
Resolution of Commendation. Lizie was praised for her caring and involvement at USU.
She is an example of how you can give back and make a difference in the lives of people
at a university (Appendix B). Waddoups highlighted some USUSA events including the
Robins Awards ceremony, the Earth Day Initiative, and A-Week.
C. Alumni Association Report – Lane L. Thomas
Trustee Thomas referenced the Alumni Association’s Annual Report. He mentioned that
several successful events including their Alumni Hall of Honor, help raise money and
increase involvement. Upcoming events include Homecoming with a football game
against Air Force, and locally hosted events for incoming freshman. He noted the
Association’s work with Michael Glauser, Director of the Jeffrey D. Clark Center for
Entrepreneurship at Utah State University and author of Main Street Entrepreneur, about
his nation-wide bike tour in which he met with local entrepreneurs.
D. Department of Public Safety Annual 2015 Annual Report
The Department of Public Safety 2015 Annual Report can be found at:
http://www.usu.edu/trustees/agenda/2016/pdf/dps-2015.pdf
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E. Commencement Schedule
Chair Jibson mentioned that this is a time to celebrate the achievements of our students.
He expressed his appreciation to the leadership on campus for all of the work they do. He
thanked the Trustees for their participation in the regional campus ceremonies. The
Regional Campus System is phenomenal; it is a highlight to see the successes of so many
nontraditional students.
F. Date of the Next Meeting
The next meeting will be held on June 24, 2016, via conference call.
G. Action Item: Oath of Office for Ashley Waddoups
Chair Jibson issued the Oath of Office to the newly elected student body president, Ashley
Waddoups.
II. PRESIDENT’S REPORT
A. Information Items
President Albrecht mentioned a few updates from the President’s report on recent events.
There were 21 events held in the President’s home in April (including faculty, alumni and
student events), Vice President McLellan’s team held their annual Research Gala, and
Dean Craig Jessop was awarded one of the four 2016 Governor’s Leadership in the Arts
awards.
B. Student Resolution of Commendation to Lizie Allen
Trustee Waddoups shared Ms. Allen’s letter as part of the USUSA report.
B. Recent Events
1. USU Foundation Board Meeting – March 5, 2016
2. Mountain West Basketball Tournament – Las Vegas, Nevada, March 7-12, 2016
3. Mountain West Board of Directors Meeting – Las Vegas, Nevada, March 11, 2016
4. Council of Presidents – Salt Lake City, March 15, 2016
5. Remarks at Huntsman Hall Dedication Ceremony, Ribbon Cutting and Reception –
March 16, 2016
6. Regence Blue Cross Blue Shield Community Board Meeting – Salt Lake City
March 17, 2016
7. Salt Lake Chamber Board of Governors – Salt Lake City, March 22, 2016
8. Remarks at Employee Recognition Luncheon – March 23, 2016
9. Inaugural Professor Lecture, Kristine Miller – President’s Home, March 23, 2016
10. Legislative Appreciation Dinner – President’s Home, March 24, 2016
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11. Student Advisory Council Breakfast – President’s Home, March 29, 2016
12. Board of Regents – Dixie State University, St. George, April 1, 2016
13. Caine College of the Arts Awards Celebration and Donor Recognition – April 1, 2016
14. K-16 Alliance – April 4, 2016
15. Remarks at R. Fareed Zakaria, Dean of College of Humanities and Social Sciences
Guest Lecture and Dinner – April 5, 2016
16. Aggie Football Banquet – April 6, 2017
17. Remarks at Diversity Awards Luncheon – President’s Home, April 7, 2016
18. Remarks at USU Retirement Dinner – April 7, 2016
19. USU Board of Trustees Teleconference Meeting – April 8, 2016
20. Aggie Auction Dinner – April 8, 2016
C. Upcoming Events
1. Remarks at Alumni Hall of Honor Luncheon – April 9, 2016
2. Merlin Olsen Fund Dinner – April 9, 2016
3. Utah Campus Compact Awards Luncheon – President’s Home, April 11, 2016
4. Remarks at Research Gala – April 11, 2016
5. Seely-Hinckley Scholarship Luncheon – April 12, 2016
6. Remarks at Salt Lake Chamber Giant in Our City – Salt Lake City, April 12, 2016
7. NCAA President Mark Emmert Visit to Utah State University – April 13-14, 2016
8. Present at Robins Awards – April 16, 2016
9. Remarks at Emeriti Luncheon – April 18, 2016
10. USUSA Incoming/Outgoing Officers Breakfast – President’s Home, April 19, 2016
11. Aggie Passport Reception, President’s Home – April 20, 2016
12. USU-Southwest Commencement – Nephi, April 21, 2016
13. Remarks at Sunrise Session – Presenter: Student IGNITE Research Presenters
Salt Lake City, April 22, 2016
14. USU-Brigham City Commencement – Brigham City, April 22, 2016
15. USU-Tooele Commencement – Tooele, April 23, 2016
16. Northwest Commission on Colleges and Universities Executive Committee Meeting
Portland, Oregon, April 25-26, 2016
17. NCAA Board of Directors Meeting – Indianapolis, Indiana, April 27-28, 2016
18. USU-Moab Commencement – Moab, April 28, 2016
19. USU-Blanding Commencement – Blanding, April 29, 2016
20. USU Eastern Commencement – Price, April 30, 2016
21. USU-Uintah Basin Commencement – Vernal, April 30, 2016
22. Council of Presidents – Salt Lake City, May 3, 2016
23. Utah Campus Compact – Salt Lake City, May 3, 2016
24. Governor’s Medal Luncheon – Salt Lake City, May 5, 2016
25. USU Board of Trustees – May 6, 2016
26. USU Graduate Commencement and Hooding Ceremony – May 6, 2016
27. President’s Commencement Dinner – May 6, 2016
28. USU Undergraduate Commencement Ceremony – May 7, 2016
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III. CONSENT AGENDA
Trustees were given the following consent agenda material for their consideration:
1. Minutes from the Executive Session held on April 8, 2016
2. Minutes from the Regular Meeting held on April 8, 2016
3. Certificate of Treasurer - 2015-12 - December – Resolution 16-05-01 (Appendix C)
4. Certificate of Treasurer - 2016-01 - January – Resolution 16-05-02 (Appendix D)
5. Contract/Grant Proposals and Awards - 2016-02 - February – Resolution 16-05-03
(Appendix E)
6. Contract/Grant Proposals and Awards - 2016-03 - March – Resolution 16-05-04
(Appendix F)
7. Delegation/Administrative Reports - 2016/01/22 to 2016/02/19 – Resolution 16-05-05
(Appendix G)
8. Delegation/Administrative Reports - 2016/02/19 to 2016/03/25 – Resolution 16-05-06
(Appendix H)
9. Faculty and Staff Adjustments – Resolution 16-05-07 (Appendix I)
10. Report of Investments - 2015-12 - December – Resolution 16-05-08 (Appendix J)
11. Report of Investments - 2016-01 - January – Resolution 16-05-09 (Appendix K)
12. USU Policy 305 Discrimination Complaints – Resolution 16-05-10 (Appendix L)
13. USU Policy 337 Safety and Health – Resolution 16-05-11 (Appendix M)
14. USU Policy 339 Sexual Harassment – Resolution 16-05-12 (Appendix N)
15. USU Policy 350 Educational Benefits – Resolution 16-05-13 (Appendix O)
16. USU Policy 402.10.1 Apportionment of Elected Faculty Positions
Resolution 16-05-14 (Appendix P)
17. USU Student Code of Policies and Procedures – Resolution 16-05-15 (Appendix Q)
18. Acceptance of Written Reports
Advancement/Alumni (Appendix R)
Athletics (Appendix S)
Business and Finance (Appendix T)
Classified Employees Association (Appendix U)
Executive Vice President and Provost (Appendix V)
Extension and College of Agriculture (Appendix W)
Faculty Senate (Appendix X)
Innovation and Commercialization (Appendix Y)
Professional Employees Association (Appendix Z)
Public Relations and Marketing (Appendix AA)
Research and Graduate Studies (Appendix BB)
Student Services (Appendix CC)
USU Eastern (Appendix DD)
USUSA (Appendix EE)
Chair Jibson asked if items on the Consent Agenda needed to be moved to the Action Agenda
for discussion. No requests were made.
Action: Trustee Thomas moved to approve the Consent Agenda. Trustee Huntsman seconded
the motion. The voting was unanimous in the affirmative.
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IV. ACTION AGENDA
1. Proposal from the Department of Plants, Soils and Climate in the College of Agriculture
and Applied Sciences to offer a Bachelor of Science degree in Climate Science –
Resolution 16-05-16 (Appendix FF)
Provost Cockett introduced the proposal to offer a bachelor’s degree in Climate Science
adding that it would be the first such degree in Utah and the Intermountain West. The
program will emphasize the study of the behavior of weather and climate, and
applications to the important practical problems of climate prediction and weather
forecasting for natural resources. Master’s and Ph.D. programs in this area are in place.
Dean White from the College of Agriculture and Applied Sciences further explained that
as the state’s only land-grant institution and home of the State Climate Office, this is the
logical place to offer this major. The combination of faculty expertise, the addition of two
new faculty members (Fall 2016), and student desire will make this a strong program. A
sharing of six core courses with the National Central University’s Department of
Atmospheric Sciences in Taiwan will afford students the opportunity to study in Taiwan
as part of their curriculum. Job opportunities for graduates will be in the insurance
industry, military, food production, energy industry, as well as, state, local, federal and
world governmental positions.
Action: Trustee Burnett moved the approval of Resolution 16-05-16 the proposal for the
Department of Plants, Soils and Climate to offer a Bachelor of Science degree in Climate
Science. Trustee Johnson seconded the motion. The voting was unanimous in the
affirmative.
2. Proposal from the Department of Management in the Jon M. Huntsman School of
Business to transfer the Minor in Business from the Dean’s office to the Management
Department – Resolution 16-05-17 (Appendix GG)
Provost Cockett explained that for years the Jon M. Huntsman School of Business has
offered a minor in Business for non-business majors. This request is for a logical
relocation of the administrative home for the program and that the curriculum be
streamlined to put focus back on core classes. The request will move the program from the
Dean’s office to the Management Department where they are better able to track students
and curriculum. In summary, the move will enable the minor to better serve the non-
Huntsman school majors.
Action: Trustee Holland moved the approval of Resolution 16-05-17 the proposal to
relocate administration for the minor in Business to the Department of Management.
Trustee Nixon seconded the motion. The voting was unanimous in the affirmative.
3. Proposal from the Department of Electrical and Computer Engineering in the College of
Engineering to remove all the emphases in the current Ph.D. in Electrical Engineering –
Resolution 16-05-18 (Appendix HH)
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Provost Cockett explained that the reasoning behind this request is two-fold. First, the
area of Electrical Engineering is rapidly evolving so the emphasis areas are continually
changing. Going forward there will not be a need to discontinue and create new
emphases. Second, employers are not interested in graduate level emphases. Students will
be able to take multiple sub-disciplines and, thus, be more desirable.
Action: Trustee Burnett moved the approval of Resolution 16-05-18 the proposal to
remove all emphases in the current Ph.D. program in Electrical Engineering. Trustee
Huntsman seconded the motion. The voting was unanimous in the affirmative.
4. Proposal from the Department of English in the College of Humanities and Social
Sciences to offer a Bachelor’s degree in English Teaching Composite – Resolution 16-05-
19 (Appendix II)
Provost Cockett related that currently graduates aiming to be English teachers are
completing an English major (42 credits) plus an English minor (at least 18 credits.) This
composite of English and teaching with 61 required credits will put more emphasis on
pedagogy instead of waiting to focus on teaching with a minor.
Dean John Allen, College of Humanities and Social Sciences, added that the English
faculty believe students are not being prepared as teachers in the depth that they should.
Beth Foley, Dean, Emma Eccles Jones College of Education and Human Services, further
explained that composite degrees are intended to provide students with more teaching and
mentoring before they take on a class on their own. Students will better understand what
it takes to be a teacher during their education. Composites will remove overlap of course
content and better integrate pedagogy courses. Other majors will be requesting similar
changes.
Action: Trustee Nixon moved the approval of Resolution 16-05-19 the proposal to off a
Bachelor’s degree in English Teaching Composite. Trustee Thomas seconded the motion.
The voting was unanimous in the affirmative.
5. Proposal from the Department of Watershed Sciences in the S.J. and Jessie E. Quinney
College of Natural Resources to change the title of the Bachelor of Science degree in
Watershed and Earth Systems to Management and Restoration of Aquatic Ecosystems –
Resolution 16-05-20 (Appendix JJ)
Provost Cockett communicated that this proposal for a name change will more clearly
convey the nature of the program to prospective students and employers. The new title,
Management and Restoration of Aquatic Ecosystems, better represents the content, skills,
and abilities of students in the program. The program prepares students to manage and
restore water systems across whole ecosystems.
Action: Trustee Gillmor moved the approval of Resolution 16-05-20 the proposal for the
Department of Watershed Sciences to rename the Bachelor’s degree in Watershed and
Earth Systems to Management and Restoration of Aquatic Ecosystems. Trustee Johnson
seconded the motion. The voting was unanimous in the affirmative.
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Chair Jibson thanked Provost Cockett and those involved in the preparation of these
action items. Trustee Nixon added his appreciation for the work and desire to make
changes and not maintain status quo.
6. Student Fee and Housing Systems Revenue Bonds, Series 2016 – Resolution 16-05-21
(Appendix KK)
Vice President Cowley explained that this request is seeking approval to proceed to the
next step to offer bonds in association with the purchase of Blue Square. Repayment
funds will come from on-campus housing rental revenue. The bonds are ready to go and
will take advantage of a current favorable rate environment.
Action: Trustee Johnson moved the approval of Resolution 16-05-21 the proposal to
issues Student Fee and Housing Systems Revenue Bonds, Series 2016. Trustee Gillmor
seconded the motion. The voting was unanimous in the affirmative.
7. Research Revenue Bonds, Series 2016 – Resolution 16-05-22 (Appendix LL)
Vice President Cowley explained that these bonds are for the funding of the approved
Phase II construction at the Space Dynamics Laboratory (SDL). Piper Jaffray has been
selected to be the underwriter. Repayment will come back via direct or indirect costs built
into grants. SDL has considered their contracts/overhead and feel they will continue to be
very competitive. They will save money by owning and not leasing space. Vice President
Mark McLellan added that the Foundation has had an extraordinary year and growth
ahead looks good. There has been land allocated for a second build in the foreseeable
future.
Action: Trustee Johnson moved the approval of Resolution 16-05-22 the proposal to issue
Research Revenue Bonds, Series 2016. Trustee Holland seconded the motion. The voting
was unanimous in the affirmative.
Chair Jibson expressed his appreciation for Vice President Cowley.
Action: Trustee Nixon made a motion to adjourn the meeting. Trustee Huntsman seconded the
motion; the voting was unanimous in the affirmative.
The meeting adjourned at 9:55 a.m.
______________________________ _____________________________
Ronald W. Jibson, Chair Sydney M. Peterson, Secretary
(Minutes taken by Carolyn Brittain)
___________________________________
Date Approved
24 June 2016
ITEM FOR ACTION
RE: Certificate of Treasurer for February 2016
The Certificate of Treasurer for February 2016 is submitted to the Board of Trustees for
consideration. It has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The State Appropriated Funds budget at 29 February 2016 totaled $354,481,927, up $14,815,955
(4.36%) over the same 2014-2015 period. The year-to-date state appropriated funds expenditures
totaled $200,601,320, up $2,950,131 (1.49%) over the same 2014-2015 period and represented
57% of the total budget. The percent of budget expended, 57%, was 10% less than would be
expected to be spent on a strict time of budget year expired basis.
Total expenditures for all funds totaled $527,401,208, up $43,377,760 (8.96%) over the same
2014-2015 period.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Board of
Trustees approve the Certificate of Treasurer for February 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, Authorized invoices and supporting papers have been filed pertaining to those
expenditures listed on the attached Certificate of Treasurer; and
WHEREAS, Expenditures listed on the attached Certificate of Treasurer have been reviewed and
approved for payment by the USU Controller's Office, Purchasing Department, and other
departments; and
WHEREAS, The expenditures listed on the attached Certificate of Treasurer are in accordance
with the laws and rules of Utah State University and the State of Utah; and
WHEREAS, The Chief Financial Officer for Utah State University, David T. Cowley, Vice
President for Business and Finance, has certified to the best of his knowledge and belief that all
expenditures listed on the attached Certificate of Treasurer were legitimate claims against Utah
State University and funds were available for payment of said claims; and
WHEREAS, Vice President Cowley requests approval of the listed expenditures by fund for the
period 1 July 2015 to 29 February 2016 on the attached Certificate of Treasurer; and
WHEREAS, The President of Utah State University has reviewed the attached Certificate of
Treasurer and recommends its approval of those expenditures listed thereon by the Utah State
University Board of Trustees; and
WHEREAS, The USU Board of Trustees has reviewed and given due consideration, review, and
authorization of the expenditures listed on the attached Certificate of Treasurer;
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
attached Certificate of Treasurer as presented and ratifies the expenditures listed on said
Certificate of Treasurer for February 2016.
=====================================================================
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
___________________
Date
I, David T. Cowley, Vice President for Business and Finance, of Utah State University, do hereby certify as follows and request approval of the listed expenditures by fund for
the period 1 July 2015 to 29 February 2016.
Authorization, invoices, and supporting papers have been filed pertaining to the following enumerated expenditures, which have been reviewed and processed for payment by the
Controller's Office, Purchasing Department, and other departments; according to the laws, rules, and regulations of Utah State University and the State of Utah. To the best of my
knowledge and belief, all are legitimate claims against Utah State University and funds were available for payment of said claims.
Increase
(Decrease)
1-Feb-16 Prior Year from Prior
State Appropriated Funds Budget 29-Feb-16 Year to Date to Date Year
Education and General (Except Athletics) $224,944,845 57% $16,592,137 128,375,116 $130,600,647 ($2,225,531) (1.70) %
Athletics 6,471,431 59% 472,991 3,798,510 3,350,429 448,081 13.37 %
E&G - O&M 2,128,300 11% 53,436 230,320 - 230,320 - %
Agricultural Experiment Station 16,402,609 46% 974,197 7,491,888 6,963,419 528,469 7.59 %
UWRL Appropriation 3,652,808 30% 94,384 1,100,898 1,178,090 (77,192) (6.55) %
UWRL Apportionment 5,112,154 45% 275,159 2,312,453 2,230,955 81,498 3.65 %
Tooele - Cont. Ed. Center 11,774,853 66% 1,055,360 7,781,596 7,302,638 478,958 6.56 %
Educationally Disadvantaged 100,033 97% 55,483 96,746 29,254 67,492 230.71 %
Southeastern Utah - Cont. Ed. Center 2,300,368 61% 174,421 1,410,710 1,373,985 36,725 2.67 %
Uintah Basin - Cont. Ed. Center 6,126,943 68% 640,886 4,139,664 3,964,250 175,414 4.42 %
Cooperative Extension 16,491,719 48% 973,662 7,872,882 7,813,799 59,083 0.76 %
Brigham City - Cont. Ed. Center 30,862,544 67% 3,767,081 20,637,317 17,285,588 3,351,729 19.39 %
USTAR 699,494 14% 990 97,887 3,774,135 (3,676,248) (97.41) %
AWSF - USTAR Funding 100 40% 5 40 32,066 (32,026) (99.88) %
E&G - Vet Med 5,117,579 60% 871,384 3,083,831 - 3,083,831 - %
Price (USU Eastern) 15,490,263 55% 1,038,077 8,494,482 7,996,747 497,735 6.22 %
Blanding Campus (USU Eastern) 4,220,044 62% 303,124 2,630,243 2,673,839 (43,596) (1.63) %
Educationally Disadvantaged (USU Eastern) 187,520 0% - - 52,155 (52,155) (100.00) %
Prehistoric Museum (USU Eastern) 559,443 50% 32,682 279,868 291,717 (11,849) (4.06) %
Workforce Education (USU Eastern) 1,838,877 42% 84,729 766,869 737,476 29,393 3.99 %
Total State Appropriated Funds $354,481,927 57% $27,460,188 $200,601,320 $197,651,189 $2,950,131 1.49 %
Total State Appropriated Funds 2014-2015 $339,665,972
Increase from 2014-2015 $14,815,955
Percent Increase from 2014-2015 4.36%
Percent of
Budget
Expended
(67% Fiscal
CERTIFICATE OF TREASURER
Year Expired)
Percent
Increase
(Decrease)
from Prior
Year
24 June 2016
ITEM FOR ACTION
RE: Certificate of Treasurer for March 2016
The Certificate of Treasurer for March 2016 is submitted to the Board of Trustees for
consideration. It has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The State Appropriated Funds budget at 31 March 2016 totaled $355,020,214, up $15,354,242
(4.52%) over the same 2014-2015 period. The year-to-date state appropriated funds expenditures
totaled $230,663,522, up $5,552,976 (2.47%) over the same 2014-2015 period and represented
65% of the total budget. The percent of budget expended, 65%, was 10% less than would be
expected to be spent on a strict time of budget year expired basis.
Total expenditures for all funds totaled $585,924,155, up $42,904,348 (7.90%) over the same
2014-2015 period.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Board of
Trustees approve the Certificate of Treasurer for March 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, Authorized invoices and supporting papers have been filed pertaining to those
expenditures listed on the attached Certificate of Treasurer; and
WHEREAS, Expenditures listed on the attached Certificate of Treasurer have been reviewed and
approved for payment by the USU Controller's Office, Purchasing Department, and other
departments; and
WHEREAS, The expenditures listed on the attached Certificate of Treasurer are in accordance
with the laws and rules of Utah State University and the State of Utah; and
WHEREAS, The Chief Financial Officer for Utah State University, David T. Cowley, Vice
President for Business and Finance, has certified to the best of his knowledge and belief that all
expenditures listed on the attached Certificate of Treasurer were legitimate claims against Utah
State University and funds were available for payment of said claims; and
WHEREAS, Vice President Cowley requests approval of the listed expenditures by fund for the
period 1 July 2015 to 31 March 2016 on the attached Certificate of Treasurer; and
WHEREAS, The President of Utah State University has reviewed the attached Certificate of
Treasurer and recommends its approval of those expenditures listed thereon by the Utah State
University Board of Trustees; and
WHEREAS, The USU Board of Trustees has reviewed and given due consideration, review, and
authorization of the expenditures listed on the attached Certificate of Treasurer;
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
attached Certificate of Treasurer as presented and ratifies the expenditures listed on said
Certificate of Treasurer for March 2016.
=====================================================================
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
___________________
Date
I, David T. Cowley, Vice President for Business and Finance, of Utah State University, do hereby certify as follows and request approval of the listed expenditures by fund for
the period 1 July 2015 to 31 March 2016.
Authorization, invoices, and supporting papers have been filed pertaining to the following enumerated expenditures, which have been reviewed and processed for payment by the
Controller's Office, Purchasing Department, and other departments; according to the laws, rules, and regulations of Utah State University and the State of Utah. To the best of my
knowledge and belief, all are legitimate claims against Utah State University and funds were available for payment of said claims.
Increase
(Decrease)
1-Mar-16 Prior Year from Prior
State Appropriated Funds Budget 31-Mar-16 Year to Date to Date Year
Education and General (Except Athletics) $225,768,132 65% $18,220,604 146,595,720 $147,611,858 ($1,016,138) (0.69) %
Athletics 6,471,431 66% 488,728 4,287,238 3,764,933 522,305 13.87 %
E&G - O&M 1,843,300 18% 98,675 328,995 - 328,995 - %
Agricultural Experiment Station 16,402,609 52% 1,040,235 8,532,123 7,837,094 695,029 8.87 %
UWRL Appropriation 3,652,808 34% 129,945 1,230,843 1,325,154 (94,311) (7.12) %
UWRL Apportionment 5,112,154 51% 297,030 2,609,483 2,472,158 137,325 5.55 %
Tooele - Cont. Ed. Center 11,774,853 77% 1,292,656 9,074,252 8,508,191 566,061 6.65 %
Educationally Disadvantaged 100,033 98% 1,632 98,378 30,091 68,287 226.93 %
Southeastern Utah - Cont. Ed. Center 2,300,368 72% 235,078 1,645,787 1,628,022 17,765 1.09 %
Uintah Basin - Cont. Ed. Center 6,126,943 77% 596,594 4,736,258 4,556,666 179,592 3.94 %
Cooperative Extension 16,491,719 53% 883,229 8,756,111 8,756,651 (540) (0.01) %
Brigham City - Cont. Ed. Center 30,862,544 83% 4,989,653 25,626,971 20,873,932 4,753,039 22.77 %
USTAR 699,494 15% 5,659 103,546 4,547,175 (4,443,629) (97.72) %
AWSF - USTAR Funding 100 45% 5 45 32,071 (32,026) (99.86) %
E&G - Vet Med 5,117,579 65% 218,806 3,302,636 - 3,302,636 - %
Price (USU Eastern) 15,490,263 62% 1,058,674 9,553,156 8,967,962 585,194 6.53 %
Blanding Campus (USU Eastern) 4,220,044 71% 378,358 3,008,601 2,986,365 22,236 0.74 %
Educationally Disadvantaged (USU Eastern) 187,520 0% - - 52,221 (52,221) (100.00) %
Prehistoric Museum (USU Eastern) 559,443 57% 38,330 318,198 327,704 (9,506) (2.90) %
Workforce Education (USU Eastern) 1,838,877 47% 88,312 855,181 832,298 22,883 2.75 %
Total State Appropriated Funds $355,020,214 65% $30,062,203 $230,663,522 $225,110,546 $5,552,976 2.47 %
Total State Appropriated Funds 2014-2015 $339,665,972
Increase from 2014-2015 $15,354,242
Percent Increase from 2014-2015 4.52%
CERTIFICATE OF TREASURER
Year Expired)
Percent
Increase
(Decrease)
from Prior
Year
Percent of
Budget
Expended
(75% Fiscal
24 June 2016
ITEM FOR ACTION
RE: Contract/Grant Proposals and Awards (April, 2016)
The summary of the Status of Sponsored Program Awards, prepared by our Sponsored
Programs Office for April 2016 is submitted for the Trustees’ consideration. They have
received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The awards for the month of April 2016 amounted to $12,122,725 versus $15,231,114 for
April 2015.
The comparative graph, “Utah State University Sponsored Program Awards” indicates
that through April 2016 cumulative award dollars were higher (3.4%) than last year for
the same time period. Scholarships, fellowships and state appropriations for research are
not included in either figure.
The value of proposals submitted decreased from $30,476,325 in April 2015 to
$20,246,522 during April 2016 (-33.6%). The total number of current year proposals
(1,167) is less than FY2015 (1,296).
RECOMMENDATION
The President and Vice President for Research recommend that the Board of Trustees
approves the contract and grant status report for April 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The attached list of contract/grant proposals and awards (April 2016) are
recommended by the President and the Vice President for Research to the Board of Trustees:
NOW THEREFORE, BE IT NOW RESOLVED, That the USU Board of Trustees hereby
approves the recommendation of the President and the Vice President for Research.
RESOLUTION APPROVED BY BOARD OF TRUSTEES:
______________________________________________________________________________
Date
24 June 2016
ITEM FOR ACTION
RE: Contract/Grant Proposals and Awards (May, 2016)
The summary of the Status of Sponsored Program Awards, prepared by our Sponsored
Programs Office for May 2016 is submitted for the Trustees’ consideration. They have
received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The awards for the month of May 2016 amounted to $11,606,430 versus $8,627,250 for
May 2015.
The comparative graph, “Utah State University Sponsored Program Awards” indicates
that through May 2016 cumulative award dollars were higher (4.8%) than last year for
the same time period. Scholarships, fellowships and state appropriations for research are
not included in either figure.
The value of proposals submitted decreased from $33,860,183 in May 2015 to
$17,076,649 during May 2016 (-49.6%). The total number of current year proposals
(1,280) is less than FY2015 (1,439).
RECOMMENDATION
The President and Vice President for Research recommend that the Board of Trustees
approves the contract and grant status report for May 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The attached list of contract/grant proposals and awards (May 2016) are
recommended by the President and the Vice President for Research to the Board of Trustees:
NOW THEREFORE, BE IT NOW RESOLVED, That the USU Board of Trustees hereby
approves the recommendation of the President and the Vice President for Research.
RESOLUTION APPROVED BY BOARD OF TRUSTEES:
______________________________________________________________________________
Date
Main Takeaways
• In May, USU had already surpassed last year’s award funding record.
• USURF FY16 proposal and award numbers are up dramatically from FY15.
• The College of Engineering continues to lead all campus units in awards (227) and proposals (259).
• Brian Higginbotham from Family Consumer & Human Development received a $1.2 million grant from the US Department of Health and Human Services, the largest award this quarter for campus.
Utah State University
Sponsored Awards Report
USU Awards 2011-2016
Aw
ard
s R
ecei
ved
USU Awards FY 2016 Year-to-Date
# Amt. LY change
USU Campus 994 $93.9 M (11.4%)
USU Research Foundation 304 $93.3 M 28.5%
YTD Total 1298 $187.2M 4.8%
($ M
illio
ns)
FY 2016, Quarter 4
Summer view of the Merrill-Cazier Library on the Logan campus.
USU Proposals FY 2016 Year-to-Date
# Amt. LY change
USU Campus 1037 $232.5 M (19.4%)
USU Research Foundation 243 $223.7 M 67.7%
YTD Total 1280 $456.2 M (8.2%)
$97.2 $89.7 $99.6 $111.2 $93.9
$70.5
$56.2
$76.8$75.4 $93.3$167.7
$145.9
$176.4$186.6 $187.2
1,565
1,382 1,501
1,587
1280
-
500
1,000
1,500
2,000
2,500
3,000
0
20
40
60
80
100
120
140
160
180
200
2012 2013 2014 2015 2016 YTD
USU Campus USU Research Foundation Proposals
Utah State University 1450 Old Main Hill Logan, UT 84322-1450More detailed charts at rgs.usu.edu/spo
Prop
osals Su
bm
itted(#)
(YTD)
Notable New Grants FY 2016 Quarter 4
Evidence for Dynamic Weakening Mechanisms in the San Andreas Fault
PI: James Evans
Dept: Geology
Sponsor: NSF
Amount: $186,607
This project will search for the processes by which fault weakening occurs. A set of microstructural and micro-geochemical methods will be harnessed to narrow the mechanisms of fault weakening to develop better rupture models.
Ignition & Flight Test Support for the Dream Chaser Engineering Test Article Flight Program
PI: Stephen Whitmore
Dept: Mechanical & Aerospace Engineering
Sponsor: SIerra Nevada Corporation
Amount: $119,088
Dr. Whitmore will lead a student team in the further development and integration of an innovative airdata sensing system on the Dream Chaser spacecraft, an orbital spacecraft designed to provide commercial transportation for crew and cargo to the international space station.
Supporting the Development of Public and School Librarians as Stewards of Cross-Setting STEM Maker Programs Through Implementation Research
PI: Victor Lee
Dept: Instructional Technology & Learning Sciences
Sponsor: US Institute of Museum and Library Sciences
Amount: $481,997
This project will develop and test models and practices to support and grow collaborative library professionals in both school and public libraries in small ciites.
Total Research Expenditures 2010 2011 2012 2013 2014
USU total expenditures (in millions)
$149.2 $174.2* $157.4 $158.4 $164.9
Rank among all instutions (2,474 total)
119 109 119 118 115
Rank among public institutions (629 total)
87 81 89 86 79
Rank among Regents Peers (11 total)
7 5 6 6 6
Utah State University Sponsored Awards Report - JUNE 2016
USU Award Type: FY12-FY16Campus Only
Aw
ard
Fu
nd
ing
USU F&A Rates: FY12-FY17From To Category Off-Campus
Research 41% 22.98% Instruction 52% 26% Other Sponsored 29% 19% Research 18.81% Instruction 26.00% Other Sponsored 15.99% Research 41% 22.98% Instruction 52% 26% Other Sponsored 16.73%
7/1/12 6/30/13
7/1/13 6/30/14
7/1/14 6/30/15
Research 22.00% Instruction 26.00% Other Sponsored 15.12%
Research 19.26% Instruction 26.00%
7/1/15 6/30/16 Research 15.30% Instruction 26.00% Other Sponsored 16.56%
7/1/16 6/30/17* Research 26.00% Instruction 26.00% Other Sponsored 15.26%
*FY17 rates are currently under review
($ M
illio
ns)
On-Campus41.00%53.13%25.77%38.84%52.59%23.47%41.60%52.60%22.45%
43.11%54.36%21.22%39.74%51.56%21.11%
*ARRA
24 June 2016
ITEM FOR ACTION
RE: Delegation/Administrative Reports –03/25/16 to 04/22/16
Utah State University has been given authority by the Division of Facilities Construction
and Management (DFCM) to exercise direct supervision of the design and construction of
all alterations, repairs, and improvements to existing facilities on individual projects with
budgets of less than $4 million. The supervision of new construction can also be
delegated to USU on a project-by-project basis and can exceed the $4 million amount.
As part of the delegation authority, administrative reports are prepared by USU and
presented to the Utah State Building Board at each of its meetings. The monthly format
of USU’s reports is similar to that of the DFCM’s reports presenting professional and
construction contracts issued during the reporting period, contingency and project
reserves status, and a delegated projects list showing budget and status. On a quarterly
basis, additional reports are prepared showing contingency fund cumulative transfers, a
summary of the statewide (paving) account, and a construction contract status. The
Board of Regents has transferred its authority to review the delegation/ administrative
reports to the Board of Trustees.
The reports have received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The following is a summary of the administrative reports for USU for the period 03/25/2016 to 04/22/2016. Professional Contracts, 6 contracts issued (Page 1) Comments are provided on the report. Construction Contracts, 8 contracts issued (Page 2) Comments are provided on the report. Report of Contingency Reserve Fund (Page 3) One project needed funds from the contingency reserve fund during this reporting period. The contingency fund is in good order. Report of Project Reserve Fund Activity (Page 4) No projects needed funds from the project reserve fund during this reporting period. The project reserve fund is in good order. Current Delegated Projects List (Pages 5-7) Of USU’s 63 projects, 8 are pending, 11 are in the design/study phase, 36 are in construction, and 8 are substantially complete. There were no projects that were completed during this period.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the delegation/
administrative reports for the current reporting period be approved as presented.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The Utah Legislature appropriates state funds through the Division of Facilities
Construction and Management to Utah State University for the purpose of capital improvements;
and
WHEREAS, The Division of Facilities Construction and Management has delegated its authority
to exercise direct supervision of the design and construction of such capital improvements to
Utah State University; and
WHEREAS, Non-state funded projects with budgets of less than $4 million are also delegated to
Utah State University; and
WHEREAS, Projects in excess of $4 million can also be delegated to Utah State University with
specific approval of the Utah State Building board; and
WHEREAS, Utah State University presents reports on the status of all its delegated projects to
the Utah State Building Board on a regular basis; and
WHEREAS, The State Board of Regents has transferred its authority to review the delegation/
administrative reports to the Board of Trustees; and
WHEREAS, The President and Vice President for Business and Finance have reviewed the
delegation/
administrative reports for the current reporting period and recommend approval of the reports to
the Board of Trustees; and
WHEREAS, The Board of Trustees has reviewed and given due consideration to the delegation/
administrative reports:
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
delegation/
administrative reports as presented.
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES
_________________
Date
Project Name Firm Name A/E Budget Fee Amount Comments
1 Summit Hall Remodel Forsgren Associates $4,200.00 $4,200.00 Seismic evaluation and re-roof engineering services
2 Clinical Services Jacoby Associates $109,000.00 $84,000.00 Provide interior design services related to furniture,
fixtures, and equipment
3 Planning & Design FY16 Method Studio $96,687.00 $40,000.00 Provide Master Planning Services for the Blanding
Campus
4 Planning & Design FY16 MHTN Architects $96,687.00 $35,000.00 Provide Master Planning Services at USU's Botanical
Center
5 Planning & Design FY16 Design Workshop $96,687.00 $20,450.00 Provide landscape design for USU's Quad
MISCELLANEOUS CONTRACTS
6 Health, LS, Code, Asbestos FY16 Dixon Information $7,500.00 $70.00 Two rush samples from Old Main roof leak
Awarded From 03/25/16 to 04/22/16
Professional Contracts
Page 1 of 7
Project Firm Name Design Firm Const Budget Contract Amt Comments
1 RBW/Family Life Chilled Water Piping Spindler Construction CRSA $691,418.00 $528,000.00 Upgrade the Ray B West/Family Life tunnel
2 NE Auxiliary Tunnel Extension Spindler Construction Cache Landmark Engineering $264,955.00 $262,686.00 Chilled water connection at USU's Junction building
3 Chilled Water Infrastructure FY16 Spindler Construction Colvin Engineering $326,773.00 $213,900.00 Upgrade the chilled water loop at Sci Tech Library
4 Medium Voltage Upgrade FY16 Cache Valley Electric USU Facilities Planning $988,506.00 $191,603.00 Upgrade to the 15kV distribution system
and Design
5 Romney Stadum Scoreboard 2015 Cache Valley Electric AJP $2,621,098.00 $26,028.00 Install new emergency power system for scoreboard
6 Health, LS, Code, Asbestos FY16 Thermal West Industrial Dixon Information $175,800.00 $25,685.00 Pipe insulation and PVC jacket replacement in the
ice cream production area of the NFS building
MISCELLANEOUS CONTRACTS
7 Merrill Cazier Lib Testing Ctr Utah Yamas Controls $1,630,000.00 $19,882.00 Access controls at testing center
8 NE Auxiliary Tunnel Extension Eagle Environmental $264,955.00 $2,269.00 Abate asbestos from the chilled water lines in the
basement machine room of the Junction
Construction Contracts
Awarded From 03/25/16 to 04/22/16
Page 2 of 7
Total
Transfers % to %
Current To (From) Construction Completed
Project Title Transfers Contingency Budget Project Status (Paid)
BEGINNING BALANCE $563,611.77
INCREASES TO CONTINGENCY RESERVE FUND
None
DECREASES FROM CONTINGENCY RESERVE FUND
NFS Mechanical System Phase 1 (40,364.44) (63,785.68) 9.70% Construction 92.27%
Additional piping and insulation
ENDING BALANCE $523,247.33
Report of Contingency Reserve Fund
From 03/25/16 to 04/22/16
Page 3 of 7
% of
Transfer Construction
Project Title Amount Description Budget
BEGINNING BALANCE $475,209.87
INCREASES TO PROJECT RESERVE FUND
None
DECREASES TO PROJECT RESERVE FUND
None
ENDING BALANCE $475,209.87
Report of Project Reserve Fund Activity
From 03/25/16 to 04/22/16
Page 4 of 7
Current Delegated Projects List
4/22/2016
Project Project
Number Project Name Phase Budget
CAPITAL DEVELOPMENT/IMPROVEMENT
A27146 Campus Controls Upgrade FY13 Substantial Completion 244,161
A27147 Campus-wide Bike Racks FY13 Construction 54,074
A28999 Building Commissioning FY14 Commissioning 196,296
A29000 Campus Controls Upgrade FY14 Construction 495,067
A29001 Classroom/Auditorium Upgrades FY14 Construction 308,965
A29003 Elevator Upgrades FY14 Substantial Completion 302,370
A29004 Emergency Generator FY14 Construction 250,000
A29006 Medium Voltage Upgrades FY14 Construction 368,637
A29007 Misc Critical Improvements FY14 Construction 249,979
A29011 Planning and Design FY14 Design/Study 157,256
A30560 Innovation Campus Water Line Substantial Completion 168,749
A31318 1200 E Walk Way Improvements Construction 943,030
A31321 Classroom/Auditorium Upgrade FY15 Construction 276,045
A31322 Concrete Replacement FY15 Construction 310,403
A31324 Elevator Upgrades FY15 Construction 405,597
A31325 Emergency Generator FY15 Pending 229,872
A31327 Health, LS, Code, Asbestos FY15 Substantial Completion 134,489
A31328 HVAC Controls Upgrade FY15 Pending 228,311
A31329 Medium Voltage Upgrade FY15 Construction 460,460
A31330 Morgan Theater Upgrade Construction 1,597,496
A31332 Old Main Reroof Substantial Completion 111,732
A31333 Planning and Design FY15 Design/Study 175,075
A31334 Sign System FY15 Construction 47,193
A31335 Site & Safety Lighting Construction 322,525
A33054 Uintah Basin Nursing Lab Remodel Substantial Completion 142,845
Page 5 of 7
A33654 Romney Stadium Scoreboard Construction 2,857,730
A34282 Access Control FY16 Construction 54,795
A34283 Chilled Water Infrastructure FY16 Construction 344,773
A34284 Classroom/Auditorium Upgrades FY16 Pending 275,847
A34285 Concrete Replacement FY16 Construction 243,096
A34287 Health, LS, Code, Asbestos FY16 Construction 183,300
A34289 Irrigation Controller Replacement FY16 Substantial Completion 66,353
A34290 Medium Voltage Upgrades FY16 Construction 1,088,506
A34291 NFS Mechanical System Phase I Construction 777,966
A34292 Old Main Fire Alarm Upgrades FY16 Construction 437,577
A34294 Planning and Design FY16 Design/Study 96,687
A34295 RBW/Family Life Chilled Water Piping Construction 786,918
A34296 South Farm Fire Lane/Hydrants FY16 Construction 231,559
A34297 Spectrum Emergency Lighting Upgrade Construction 252,505
A34298 UBC Infrastructure Improvements Construction 1,158,887
A34299 Univ Inn/Widstoe Steam Line Replacement Design 75,000
A34300 VCT Tile Replacement in Hallways Pending 328,890
A34301 Vet Science Electrical Upgrade FY16 Design 98,753
A34468 Roosevelt Ed Ctr Aggie Station Remodel Design 37,550
A35181 Living Learning Center Parking Garage Vestibules Construction 103,824
A35463 Spectrum ADA Seating Construction 31,090
A35569 Townhouse Stucco Proj Bldg 3 Pending 139,470
A35570 Athletics Refueling Station Substantial Completion 139,538
A35676 Merrill Cazier Lib Testing Ctr Construction 2,108,650
A35677 PDP Air Handling Units Design 340,000
A35868 Summit Hall Remodel Design 1,122,568
A35971 PDP Refreshment Design 700,000
A35997 NE Auxiliary Tunnel Extension Construction 383,850
A36118 Utility Meter Upgrades FY16 (New Project) Pending 91,500
A36189 Gymnastics Room Relocation (New Project) Design 450,000
A36353 Athletics Track Resurfacing and Remodel (New Project) Pending 400,000
C11368 USUE Mechanical/Lighting upgrade Construction 877,397
C11375 USUE Library Concrete Replacement Construction 297,173
C11461 USUE Infrastructure/Automation Upgrade Construction 461,857
Page 6 of 7
C11508 USUE Career Center Upgrades Construction 834,234
C11560 USUE Cosmetology Relocation Construction 332,486
C11614 USUE Blanding Campus Mechanical FY16 Pending 45,662
C11615 USUE Geary Theatre Bldg Upgrades FY16 Design 1,992,786 TOTAL (63) $28,429,404
Page 7 of 7
24 June 2016
ITEM FOR ACTION
RE: Delegation/Administrative Reports –04/22/16 to 05/20/16
Utah State University has been given authority by the Division of Facilities Construction and Management (DFCM) to exercise direct supervision of the design and construction of all alterations, repairs, and improvements to existing facilities on individual projects with budgets of less than $4 million. The supervision of new construction can also be delegated to USU on a project-by-project basis and can exceed the $4 million amount. As part of the delegation authority, administrative reports are prepared by USU and presented to the Utah State Building Board at each of its meetings. The monthly format of USU’s reports is similar to that of the DFCM’s reports presenting professional and construction contracts issued during the reporting period, contingency and project reserves status, and a delegated projects list showing budget and status. On a quarterly basis, additional reports are prepared showing contingency fund cumulative transfers, a summary of the statewide (paving) account, and a construction contract status. The Board of Regents has transferred its authority to review the delegation/ administrative reports to the Board of Trustees. The reports have received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The following is a summary of the administrative reports for USU for the period 04/22/2016 to 05/20/2016. Professional Contracts, 12 contracts issued (Page 1) Comments are provided on the report. Construction Contracts, 12 contracts issued (Page 2) Comments are provided on the report. Report of Contingency Reserve Fund (Page 3) One project contributed funds to the contingency reserve fund during this reporting period. The contingency fund is in good order. Report of Project Reserve Fund Activity (Page 4) No projects needed funds from the project reserve fund during this reporting period. The project reserve fund is in good order. Current Delegated Projects List (Pages 5-7) Of USU’s 71 projects, 7 are pending, 13 are in the design/study phase, 43 are in construction, 6 are substantially complete and 2 were completed during this period. The two projects that were completed are Athletics Refueling Station and Innovation Campus Water Line.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the delegation/ administrative reports for the current reporting period be approved as presented.
RESOLUTION UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The Utah Legislature appropriates state funds through the Division of Facilities Construction and Management to Utah State University for the purpose of capital improvements; and WHEREAS, The Division of Facilities Construction and Management has delegated its authority to exercise direct supervision of the design and construction of such capital improvements to Utah State University; and WHEREAS, Non-state funded projects with budgets of less than $4 million are also delegated to Utah State University; and WHEREAS, Projects in excess of $4 million can also be delegated to Utah State University with specific approval of the Utah State Building board; and WHEREAS, Utah State University presents reports on the status of all its delegated projects to the Utah State Building Board on a regular basis; and WHEREAS, The State Board of Regents has transferred its authority to review the delegation/ administrative reports to the Board of Trustees; and WHEREAS, The President and Vice President for Business and Finance have reviewed the delegation/ administrative reports for the current reporting period and recommend approval of the reports to the Board of Trustees; and WHEREAS, The Board of Trustees has reviewed and given due consideration to the delegation/ administrative reports: NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the delegation/ administrative reports as presented. RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES _________________ Date
Project Name Firm Name A/E Budget Fee Amount Comments
1 OM Reroof‐Center Section Design West $25,200.00 $25,200.00 Construction Administration Services for project
2 USUE Soccer Fields Johansen & Tuttle $13,780.00 $13,780.00 Design for new soccer field at USUE Price
3 Gymnastics Room Relocation CRSA $13,610.00 $13,600.00 Design of HPER 213 to accommodate equipment
4 Hydraulics Lab Landscape FY17 Design West $8,771.00 $8,500.00 Design for landscape improvements in front of lab
5 USUE Mechanical/Lighting Upgrade Sine Source $69,652.00 $4,360.00 Electrical Engineering services
MISCELLANEOUS CONTRACTS
6 BNR Roadway Replacement Skyline A/E/S $5,100.00 $5,100.00 Surveying and construction administration
7 Hydraulics Lab Landscape FY17 Dixon Information $8,771.00 $136.00 Eight samples taken from shed
8 Hydraulics Lab Landscape FY17 Dixon Information $8,771.00 $135.00 Three samples taken from shed
9 Health, LS, Code, Asbestos FY16 Dixon Information $7,500.00 $50.00 Samples taken from the basement of Old Main
10 Health, LS, Code, Asbestos FY16 Dixon Information $7,500.00 $34.00 Sample testing from BRASC 104
11 Health, LS, Code, Asbestos FY16 Dixon Information $7,500.00 $25.00 Sample testing from Military Science Bldg
12 Health, LS, Code, Asbestos FY16 Dixon Information $7,500.00 $25.00 Sample testing from BRASC 104
Awarded From 04/22/16 to 05/20/16Professional Contracts
Page 1 of 7
Project Firm Name Design Firm Const Budget Contract Amt Comments1 Summit Hall Remodel Spindler Construction Forsgren Associates Inc $843,777.00 $843,777.00 Remodel Summit Hall
2 OM Reroof‐Center Section Kendrick Brothers Roofing Design West $704,381.00 $704,381.00 Re‐roof the center section of Old Main
3 Track Resurfacing and Remodel Beynon Sports Surfaces USU Facilities Planning $369,407.00 $334,407.00 Re‐surface the track
and Design
4 Track Resurfacing and Remodel Spindler Construction USU Facilities Planning $369,407.00 $35,000.00 Concrete work at the track field
and Design
5 Building Commissioning FY14 USU Facilities Operations USU Facilities Planning $185,185.00 $21,175.00 Eng Lab AHU‐13 dual duct box control upgrade
and Design
6 N Core Utility Repl/Tunnel Expansion Jacobsen Construction USU Facilities Planning $2,328,000.00 $7,500.00 Pre‐construction services for utility/tunnel work
and Design
MISCELLANEOUS CONTRACTS
7 UBC Infrastructure Improvements Environmental Abatement $1,071,955.00 $23,900.00 Abate 1,300 linear ft of buried transite water line
8 RBW/Family Life Chilled Water Piping Environmental Abatement $700,918.00 $17,500.00 Abate 438 linear ft of insulated steam line
9 Health, LS, Code, Asbestos FY16 Eagle Environmental $175,800.00 $5,394.00 Abate 1,370 sq ft of carpet, floor tile and mastic from
second floor of Family Life building.
10 Health, LS, Code, Asbestos FY16 Eagle Environmental $175,800.00 $3,726.00 Abate 846 sq ft of carpet, floor tile and mastic from
third floor in Family Life building.
11 Health, LS, Code, Asbestos FY16 Eagle Environmental $175,800.00 $1,964.00 Abate 300 sq ft of vapor barrier in BRASC 104
12 UBC Infrastructure Improvements Questar Gas $1,071,955.00 $1,433.25 Retire main line and install new gas line
Construction ContractsAwarded From 04/22/16 to 05/20/16
Page 2 of 7
TotalTransfers % to %
Current To (From) Construction CompletedProject Title Transfers Contingency Budget Project Status (Paid)
BEGINNING BALANCE $523,247.33
INCREASES TO CONTINGENCY RESERVE FUNDUtility Meter Upgrades FY16 8,500.00 8,500.00 9.29% New Project
DECREASES FROM CONTINGENCY RESERVE FUND None
ENDING BALANCE $531,747.33
Report of Contingency Reserve FundFrom 04/22/16 to 05/20/16
Page 3 of 7
% ofTransfer Construction
Project Title Amount Description Budget
BEGINNING BALANCE $475,209.87
INCREASES TO PROJECT RESERVE FUND None
DECREASES TO PROJECT RESERVE FUND None
ENDING BALANCE $475,209.87
Report of Project Reserve Fund ActivityFrom 04/22/16 to 05/20/16
Page 4 of 7
Current Delegated Projects List5/20/2016
Project ProjectNumber Project Name Phase Budget
CAPITAL DEVELOPMENT/IMPROVEMENTA27146 Campus Controls Upgrade FY13 Substantial Completion 244,161
A27147 Campus‐wide Bike Racks FY13 Construction 54,074
A28999 Building Commissioning FY14 Commissioning 196,296
A29000 Campus Controls Upgrade FY14 Construction 495,067
A29001 Classroom/Auditorium Upgrades FY14 Construction 308,965
A29003 Elevator Upgrades FY14 Substantial Completion 302,370
A29004 Emergency Generator FY14 Construction 250,000
A29006 Medium Voltage Upgrades FY14 Construction 369,939
A29007 Misc Critical Improvements FY14 Construction 249,979
A29010 Parking Lot Paving FY14 Construction 845,875
A29010 Parking Lot Paving FY14 Construction 845,875
A29011 Planning and Design FY14 Design/Study 157,256
A30560 Innovation Campus Water Line Complete 168,749
A31318 1200 E Walk Way Improvements Construction 943,030
A31321 Classroom/Auditorium Upgrade FY15 Construction 276,045
A31322 Concrete Replacement FY15 Construction 310,403
A31324 Elevator Upgrades FY15 Construction 405,597
A31325 Emergency Generator FY15 Pending 229,872
A31327 Health, LS, Code, Asbestos FY15 Substantial Completion 134,489
A31328 HVAC Controls Upgrade FY15 Pending 228,311
A31329 Medium Voltage Upgrade FY15 Construction 460,460
A31330 Morgan Theater Upgrade Construction 1,597,496
A31332 Old Main Reroof Substantial Completion 111,732
A31333 Planning and Design FY15 Design/Study 175,075
A31334 Sign System FY15 Construction 47,193
A31335 Site & Safety Lighting Construction 322,525
Page 5 of 7
A33054 Uintah Basin Nursing Lab Remodel Substantial Completion 142,845
A33654 Romney Stadium Scoreboard Construction 2,857,730
A34282 Access Control FY16 Construction 54,795
A34283 Chilled Water Infrastructure FY16 Construction 344,773
A34284 Classroom/Auditorium Upgrades FY16 Pending 275,847
A34285 Concrete Replacement FY16 Construction 243,096
A34287 Health, LS, Code, Asbestos FY16 Construction 183,300
A34289 Irrigation Controller Replacement FY16 Substantial Completion 66,353
A34290 Medium Voltage Upgrades FY16 Construction 1,088,506
A34291 NFS Mechanical System Phase I Construction 796,348
A34292 Old Main Fire Alarm Upgrades FY16 Construction 437,577
A34294 Planning and Design FY16 Design/Study 96,687
A34295 RBW/Family Life Chilled Water Piping Construction 786,918
A34296 South Farm Fire Lane/Hydrants FY16 Construction 231,559
A34297 Spectrum Emergency Lighting Upgrade Construction 252,505
A34298 UBC Infrastructure Improvements Construction 1,158,887
A34299 Univ Inn/Widstoe Steam Line Replacement Design 75,000
A34300 VCT Tile Replacement in Hallways Construction 328,890
A34301 Vet Science Electrical Upgrade FY16 Design 98,753
A34468 Roosevelt Ed Ctr Aggie Station Remodel Design 37,550
A35181 Living Learning Center Parking Garage Vestibules Construction 103,824
A35463 Spectrum ADA Seating Construction 31,090
A35569 Townhouse Stucco Proj Bldg 3 Pending 139,470
A35570 Athletics Refueling Station Complete 121,390
A35676 Merrill Cazier Lib Testing Ctr Construction 2,108,650
A35677 PDP Air Handling Units Design 340,000
A35868 Summit Hall Remodel Construction 1,202,845
A35971 PDP Refreshment Design 691,570
A35997 NE Auxiliary Tunnel Extension Construction 480,836
A36118 Utility Meter Upgrades FY16 (New Project) Pending 91,500
A36189 Gymnastics Room Relocation Design 436,857
A36353 Track Resurfacing and Remodel Construction 400,000
A36388 North Core Utilities Replacement & Tunnel Expansion (New Project) Construction 2,348,000
A36466 BNR Roadway Replacement (New Project) Design 321,221
Page 6 of 7
A36467 OM Reroof‐Center Section (New Project) Construction 736,606
A36468 Hydraulics Lab Landscape FY17 (New Project) Design 92,192
A36469 Medium Voltage FY17 (New Project) Pending 1,390,000
C11368 USUE Mechanical/Lighting upgrade Construction 877,397
C11375 USUE Library Concrete Replacement Construction 297,173
C11461 USUE Infrastructure/Automation Upgrade Construction 461,857
C11508 USUE Career Center Upgrades Construction 834,234
C11560 USUE Cosmetology Relocation Construction 332,486
C11614 USUE Blanding Campus Mechanical FY16 Pending 45,662
C11615 USUE Geary Theatre Bldg Upgrades FY16 Design 1,992,786
C11709 USUE Soccer Fields (New Project) Design 265,000 TOTAL (71) $35,431,399
Page 7 of 7
24 June 2016
ITEM FOR ACTION
RE: Faculty and Staff Adjustments
The attached faculty and staff adjustments are submitted for the Trustees consideration. They have received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
The faculty and staff adjustments include twelve (12) changes in title or assignment; and two (2) new appointments.
RECOMMENDATION
The President and Provost recommend that the Board of Trustees approve the attached faculty and staff adjustments.
RESOLUTION UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The President and the Provost recommend that the Board of Trustees approve twelve (12) changes in title or assignment; and two (2) new appointments.
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approve the recommendation of the faculty and staff adjustments.
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
Date
24 June 2016
Faculty and Staff Adjustments
a. Change in Title or Assignment
Caine College of the Arts Kathleen Puzey, Associate Professor, Department of Art and Design, Caine College of the Arts, to also be Interim Associate Dean of the same; effective 1 July 2016; replacing Christopher T. Terry while he is on sabbatical. Change in salary to be $87,528, which includes 9-month base salary plus three additional months. Jon M. Huntsman School of Business Chad O. Albrecht, Associate Professor, Department of Management, Jon M. Huntsman School of Business, to also be Director of MBA Programs; effective 1 July 2016; replacing James H. Davis. Change in salary to be $166,230, which includes 9-month base salary plus two additional months. Larry M. Walther, Head and Professor, School of Accountancy, Jon M. Huntsman School of Business, to also be Senior Associate Dean of the same; effective 1 July 2016; replacing Clifford R. Skousen. No change in salary.
Emma Eccles Jones College of Education and Human Services Ben Lignugaris/Kraft, Professor, Department of Special Education and Rehabilitation, Emma Eccles Jones College of Education and Human Services, to also be Interim Head, School of Teacher Education and Leadership, Eccles Jones College of Education and Human Services; effective 1 July 2016; replacing Mary F. Roe. Change in salary to be $132,000/11-month.
College of Engineering David W. Britt, Associate Professor, Department of Biological Engineering, College of Engineering, to also be Interim Head of the same; effective 1 July 2016; replacing Jagath J. Kaluarachchi. Change in salary to be $160,496/12-month. Jacob H. Gunther, Professor, Department of Electrical and Computer Engineering, College of Engineering, to also be Head of the same; effective 1 July 2016; replacing Todd K. Moon. Change in salary to be $178,663/12-month. Jagath J. Kaluarachchi, Professor of Civil and Environmental Engineering and Interim Head of Biological Engineering, College of Engineering, to be Interim Dean and Professor of Civil and Environmental Engineering, College of Engineering; effective 1 July 2016; replacing Christine E. Hailey. Change in salary to $213,633/12-month. College of Humanities and Social Sciences
Thomas Kim Hixson, Head and Associate Professor, Department of Journalism and Communication, College of Humanities and Social Sciences, to be granted tenure; effective 1 July 2016. No change in salary.
S.J. & Jessie E. Quinney College of Natural Resources Claudia A. Radel, Associate Professor, Department of Environment and Society, S.J. & Jessie E. Quinney College of Natural Resources, to also be Associate Dean of the same; effective 1 July 2016; replacing Karen E. Mock. Change in salary to be $103,185, which includes 9-month base salary plus three additional months.
College of Science Christopher D. Corcoran, Professor, Department of Mathematics and Statistics, to also be Head of the same; effective 1 July 2016; replacing D. Richard Cutler. Change in salary to be $155,000/11-month. Joel L. Pederson, Professor, Department of Geology, College of Science, to also be Interim Head of the same; effective 1 July 2016; replacing W. David Liddell. Change in salary to be $118,591/12-month. University Libraries Britt A. Fagerheim, Librarian, University Libraries, to also be Interim Associate Dean of the same; effective 1 July 2016; replacing John A. Elsweiler. Change in salary to be $81,338/12-month.
b. New Appointment
Emma Eccles Jones College of Education and Human Services
Shawn D. Whiteman, Associate Professor with tenure, Department of Family, Consumer, and Human Development, Emma Eccles Jones College of Education and Human Services; effective 1 August 2016. B.A. Shippensburg University, 1998; M.A. Wake Forest University, 2000; Ph.D. The Pennsylvania State University, 2004. Salary to be $90,000/9-months. College of Humanities and Social Sciences
Joseph P. Ward, Dean and Professor, Department of History, College of Humanities and Social Sciences; effective 25 July 2016; replacing John C. Allen. B.A. University of Chicago, 1987; M.A. Stanford University, 1989; Ph.D. Stanford University, 1992. Salary to be $185,000/12-months.
24 June 2016
ITEM FOR ACTION
RE: Report of Investments for February 2016
The Report of Investments for February 2016 is submitted to the Board of Trustees for
consideration. It has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
This set of investment reports presents investment activity for February 2016 and comparative
year-to-date totals for FY 2015-2016 and FY 2014-2015.
CASH MANAGEMENT INVESTMENT POOL
The average daily fair value invested during February 2016 was $346,288,399, up $10,046,625
over January 2016. Total investment income was $273,633, down $2,890,290 from January
2016, reflecting the increase in the amount available for investing and a decrease in total
investment return. The annualized total investment return was 0.95%, down 10.34% from
January 2016.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$324,892,869, up $23,026,921 (7.63%) over FY 2014-2015. Total interest income for FY 2015-
2016 amounted to $3,726,624, down $32,589 (0.87%) from FY 2014-2015, reflecting an
increase in the amount available for investing and a decrease in interest rates.
The total amount invested at 29 February 2016 was $354,068,850, up $11,596,945 (3.39%) over
28 February 2015.
ENDOWMENT POOL
The average daily fair value invested during February 2016 was $140,724,239, up $1,193,020
over January 2016. Interest and dividend income of $131,438 minus net realized losses of $9,340
totaled $122,098 in realized income for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$138,649,059, up $2,402,258 (1.76%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $1,842,669, down $301,279 (14.05%) from FY 2014-2015. This decrease resulted
from $109,521 more in interest and dividends and $410,800 less net realized gains during FY
2015-2016.
The total amount invested at 29 February 2016 was $140,598,844, down $4,652,591 (3.20%)
from 28 February 2015.
OTHER INVESTMENTS
The average daily fair value invested during February 2016 was $87,237,821, down $300,507
from January 2016. Interest and dividend income of $277,788 minus net realized losses of
$588,220 totaled $310,432 in realized loss for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$86,851,356, up $8,626,199 (11.03%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $1,707,901, up $288,389 (20.32%) over FY 2014-2015. This increase resulted from
$518,473 more in interest and dividend income and $230,084 more in net realized losses during
FY 2015-2016.
The total amount invested at 29 February 2016 was $86,668,760, up $586,823 (0.68%) over 28
February 2015.
ENDOWMENT TRUSTS
The average daily fair value invested during February 2016 was $5,273,458 down $181,371 from
January 2016. Interest and dividend loss of $6,454 minus net realized losses of $10,076 totaled
$16,530 in realized loss for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$5,742,907, down $881,747 (13.31%) from FY 2014-2015. Total realized income for FY 2015-
2016 was $194,936, down $226,457 (53.74%) from FY 2014-2015. This decrease resulted from
$34,002 less interest and dividend income and $192,455 less net realized gains during FY 2015-
2016.
The total amount invested at 29 February 2016 was $5,202,296, down $1,267,000 (19.58%) from
28 February 2015.
PLANT FUND TRUSTS
The average daily fair value invested during February 2016 was $73,877,132, down $1,519,467
from January 2016. Interest income totaled $55,407 in realized income for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$64,823,587, up $31,149,856 (92.50%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $472,598, up $216,012 (84.19%) over FY 2014-2015. This increase reflects the
increased amount available for investing and an increase in the rate of return.
The total amount invested at 29 February 2016 was $69,676,329, up $42,666,330 (157.96%)
over 28 February 2015.
SUMMARY OF INVESTMENT TRANSACTIONS
The University’s average daily fair value invested for the month of February was $653,401,049.
Purchases totaled $50,210,806 and sales totaled $44,071,695. From this activity the University
realized net losses of $607,636 and earnings of $957,693.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Board of
Trustees approve the Report of Investments for February 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The attached Report of Investments containing authorized transactions,
documentation, and supporting papers has been filed for review by the Board of Trustees
pertaining to the investment activities; and
WHEREAS, The investment transactions listed on the attached Report of Investments have been
approved by the USU Controller’s Office; and
WHEREAS, The investment activities listed on the attached Report of Investments are in
accordance with the Utah State Money Management Act, the rules of the Utah State Money
Management Council, the Utah State Uniform Prudent Management of Institutional Funds Act,
and the laws and rules of Utah State University and the State of Utah; and
WHEREAS, The Chief Financial Officer for Utah State University, David T. Cowley, Vice
President for Business and Finance, has certified to the best of his knowledge and belief all
investment transactions listed on the attached Report of Investments were made in accordance
with the guidelines, rules, and laws; and
WHEREAS, Vice President Cowley requests approval of the attached Report of Investments for
the period 1 February 2016 to 29 February 2016 and comparative year-to-date totals for the
periods 1 July 2015 to 29 February 2016 and 1 July 2014 to 28 February 2015; and
WHEREAS, The President of Utah State University has reviewed the attached report and
recommends its approval by the Utah State University Board of Trustees; and
WHEREAS, The USU Board of Trustees has reviewed and given due consideration, review, and
authorization of the investment transactions listed on the attached Report of Investments for the
period 1 February 2016 to 29 February 2016 and comparative year-to-date totals for the periods
1 July 2015 to 29 February 2016 and 1 July 2014 to 28 February 2015;
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
attached Report of Investments as presented and ratifies the transactions listed on said Report of
Investments for February 2016.
=====================================================================
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
__________________________________
Date
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule A-1
Change Average Total Less Net
Beginning Sales in Ending Daily Interest Service Interest
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Income Charges Income
Jul 2015 $294,364,021 $14,946,300 $14,000,000 $902,403 $296,212,724 $297,423,682 $451,055 $1,929 $449,126
Aug 2015 296,212,724 16,000,000 5,000,000 153,229 307,365,953 301,951,282 436,797 0 436,797
Sep 2015 307,365,953 56,406,000 32,965,000 1,131,384 331,938,337 329,296,083 472,353 (245) 472,598
Oct 2015 331,938,337 25,377,935 22,000,000 (488,219) 334,828,053 329,558,646 461,434 5,148 456,286
Nov 2015 334,828,053 3,616,000 15,985,000 (430,304) 322,028,749 331,492,451 453,371 (75) 453,446
Dec 2015 322,028,749 18,000,000 4,989,250 (864,807) 334,174,692 326,890,636 471,077 (2,060) 473,137
Jan 2016 334,174,692 31,956,590 27,000,000 2,682,900 341,814,182 336,241,774 481,023 1 481,022
Feb 2016 341,814,182 44,480,549 32,000,000 (225,881) 354,068,850 346,288,399 499,514 (192) 499,706
Mar 2016
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $294,364,021 $210,783,374 $153,939,250 $2,860,705 $354,068,850 $324,892,869 $3,726,624 $4,506 $3,722,118
FY 2014-15 275,112,783 262,167,993 200,652,326 5,843,455 342,471,905 301,865,948 3,759,213 2,438 3,756,775
Amt Change 11,596,945 23,026,921 (32,589) 2,068 (34,657)
% Change 3.39% 7.63% -0.87% 84.82% -0.92%
Note: The Cash Management Investment Pool includes cash of all funds over estimated daily operating requirements.
For the Month of February 2016 Schedule A-2
Change Total Average Annualized
Sales in Investment Daily Total Investment
Purchases Cost Receipts Earnings Fair Value Income Fair Value Return
Money Market Account $4,228 $4,228 $7,100,000 0.71%
Utah Public Treasurers'
Investment Fund 29,795 29,795 48,100,000 0.74%
Commercial Paper and
Corporate Notes $44,480,549 $5,000,000 $5,000,000 158,381 ($320,049) (161,668) 129,566,892 -1.50%
Obligations of U. S. Government 27,000,000 27,000,000 250,647 (1,710) 248,937 145,211,207 2.06%
Municipal Bonds 56,463 95,878 152,341 16,310,300 11.21%
Total $44,480,549 $32,000,000 $32,000,000 $499,514 ($225,881) $273,633 $346,288,399 0.95%
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL
SUMMARY OF INVESTMENT TRANSACTIONS AND PERFORMANCE
UTAH STATE UNIVERSITY
SUMMARY OF CASH MANAGEMENT INVESTMENT POOL TRANSACTIONS Schedule A-3
For the Month of February 2016
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Cash Management Investment Pool
Money Market Account $4,228
Utah Public Treasurers'
Investment Fund 29,795
Commercial Paper & Corporate Notes $44,480,549 $5,000,000 $5,000,000 $0 158,381
Obligations of U. S. Government 27,000,000 27,000,000 0 250,647
Municipal Bonds 56,463
Total Cash Management Investment Pool $44,480,549 $32,000,000 $32,000,000 $0 $499,514
UTAH STATE UNIVERSITY
ENDOWMENT POOL
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule B-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest and Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income Expenses Income/(Loss)
*Jul 2015 $140,117,856 $2,520,525 $2,173,100 $181,736 $140,647,017 $140,382,437 $347,424 ($8,843) $338,581 $0 $338,581
Aug 2015 140,647,017 1,837,952 1,713,829 (4,951,833) 135,819,307 138,233,162 134,772 (2,640) 132,132 10,649 121,483
Sep 2015 135,819,307 1,926,694 1,588,867 (2,036,977) 134,120,157 134,969,732 337,826 (7,985) 329,841 0 329,841
Oct 2015 134,120,157 2,202,941 1,249,036 4,749,664 139,823,726 136,971,942 183,235 (6,070) 177,165 7,483 169,682
Nov 2015 139,823,726 1,110,008 986,298 (585,958) 139,361,478 139,592,602 134,169 (983) 133,186 10,459 122,727
Dec 2015 139,361,478 2,546,307 2,089,989 (1,604,993) 138,212,803 138,787,141 456,320 (3,779) 452,541 0 452,541
Jan 2016 138,212,803 7,368,674 1,325,868 (3,405,975) 140,849,634 139,531,219 173,375 (16,250) 157,125 7,463 149,662
Feb 2016 140,849,634 419,723 298,559 (371,954) 140,598,844 140,724,239 131,438 (9,340) 122,098 10,274 111,824
Mar 2016
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $140,117,856 $19,932,824 $11,425,546 ($8,026,290) $140,598,844 $138,649,059 $1,898,559 ($55,890) $1,842,669 $46,328 $1,796,341
FY 2014-15 133,500,784 42,119,334 32,286,466 1,917,783 145,251,435 136,246,801 1,789,038 354,910 2,143,948 14,324 2,129,624
Amt Change (4,652,591) 2,402,258 109,521 (410,800) (301,279) 32,004 (333,283)
% Change -3.20% 1.76% 6.12% -115.75% -14.05% 223.43% -15.65%
Note: The Endowment Pool includes endowment funds designated for long-term investment. Included in this pool are endowment funds invested in the University's Cash
Management Investment Pool (CMIP) consisting of $18,911,070 principal beginning balance, a $18,929,757 ending balance, and a $18,920,413 average daily balance for the
current month. Current month interest and dividends from the CMIP were $27,072 bringing the total to $166,884 year-to-date. These amounts have also been reported in
Schedules A-1 and A-2.
*The July beginning fair value has been adjusted to reflect the amount distributed to expendable accounts at fiscal year end.
UTAH STATE UNIVERSITY
SUMMARY OF ENDOWMENT POOL TRANSACTIONS Schedule FSchedule B-2
For the Month of February 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Endowment Pool Transactions
Cash Management Investment Pool
Utah State University $8,385 $8,385 $0 $27,072
CMIP Interest $27,072
Equity funds
RhumbLine QSI Index 120.417 1,517 1,889 372
Fixed Income funds
Longfellow 34,184 174,944 165,232 (9,712) 24,439
Wells Fargo
High Yield Bond Fund 3,964.316 37,026 39,386
Paydenfunds - Emerging Markets Bond Fund 907.639 11,563 11,563
Stone Harbor Emerging Market 3,089.297 28,978 28,978
Alternatives
Commonfund
CVP X 20,000
Solamere Capital
Solamere Founders Fund II, LP 14,518 14,518 0
Accrued Income / Other
05374002
Cash 14,518 20,000 20,000 0
Wells Fargo - High Yield 39,386 37,026 37,026 0
05374004
Cash 182,528 34,213 34,213 0
Interest Accrual 24,468 17,296 17,296 0
Total Endowment Pool Transactions $419,723 $307,899 $298,559 ($9,340) $131,438
UTAH STATE UNIVERSITY
OTHER INVESTMENTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule C-1
Change Average Total Realized Total
Beginning Sales in Ending Daily Interest and Gain or Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income
Jul 2015 $85,525,373 $1,171,824 $901,845 $365,533 $86,160,885 $85,843,129 $369,263 $3,153 $372,416
Aug 2015 86,160,885 2,287,414 1,842,208 (1,213,162) 85,392,929 85,776,907 222,820 2,998 225,818
Sep 2015 85,392,929 1,717,966 1,365,967 (221,940) 85,522,988 85,457,959 357,380 (23,272) 334,108
Oct 2015 85,522,988 7,154,696 5,261,462 1,298,112 88,714,334 87,118,661 318,333 (51,784) 266,549
Nov 2015 88,714,334 4,974,331 5,858,304 15,626 87,845,987 88,280,161 276,901 (127,276) 149,625
Dec 2015 87,845,987 11,188,303 10,747,738 (1,016,778) 87,269,774 87,557,881 469,128 18,379 487,507
Jan 2016 87,269,774 6,276,650 5,094,838 (644,705) 87,806,881 87,538,328 331,777 (149,467) 182,310
Feb 2016 87,806,881 5,043,347 5,748,157 (433,311) 86,668,760 87,237,821 277,788 (588,220) (310,432)
Mar 2016
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $85,525,373 $39,814,531 $36,820,519 ($1,850,625) $86,668,760 $86,851,356 $2,623,390 ($915,489) $1,707,901
FY 2014-15 54,409,537 85,184,676 53,942,192 429,916 86,081,937 78,225,157 2,104,917 (685,405) 1,419,512
Amt Change 586,823 8,626,199 518,473 (230,084) 288,389
% Change 0.68% 11.03% 24.63% -33.57% 20.32%
UTAH STATE UNIVERSITY
SUMMARY OF OTHER INVESTMENT TRANSACTIONS Schedule C-2
For the Month of February 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Other Investments
Corporate Bonds and Notes
U.S. Treasury Bond $1,289
Common and Preferred Stock
Edward Jones
Questar Corporation 500 $12,495 500 $12,495 $12,178 ($317)
Morgan Stanley
ClearOne, Inc 450.000 5,440 450.000 5,440 5,229 (211)
Stericycle Inc 87.000 10,370 87.000 10,370 10,200 (170)
Utah Public Treasurers'
Investment Fund 521 521
Fixed Income
JPMorgan Chase Bank NA 15,000.000 1,500,000 1,282,500 (217,500)
CitiBank 26,110.000 2,611,000 2,206,295 (404,705)
General Electric 0.000 32,083 0.000 0 32,083 32,083
Trans-Canada Pipelines 10,000.000 1,006,200
Wells Fargo - Earnings 275,977
Mutual Funds
Commonfund
Multi-Strategy Bond 83.535 1,019 1,218 199
Multi-Strategy Equity 11.420 699 3,100 2,401
Money Market / Cash
Morgan Stanley 1 1
Wells Fargo - Cash 3,671,783 2,044,449 2,044,449 0
Receivable / In Transit / Unsettled Purchases
Wells Fargo - Receivable 303,165 150,905 150,905 0
U.S. Treasury Bond 1,289
Total Other Investments $5,043,347 $6,336,377 $5,748,157 ($588,220) $277,788
UTAH STATE UNIVERSITY
ENDOWMENT TRUSTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule D-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest and Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income Expenses Income/(Loss)
Jul 2015 $6,163,191 $345,495 $322,446 ($81,023) $6,105,217 $6,134,204 $23,699 $35,725 $59,424 $651 $58,773
Aug 2015 6,105,217 67,548 46,278 (376,776) 5,749,711 5,927,464 28,954 0 28,954 74 28,880
Sep 2015 5,749,711 198,010 173,103 (282,325) 5,492,293 5,621,002 24,933 (16,141) 8,792 25 8,767
Oct 2015 5,492,293 47,466 22,120 502,599 6,020,238 5,756,266 25,998 (15) 25,983 652 25,331
Nov 2015 6,020,238 328,472 306,374 (58,937) 5,983,399 6,001,819 22,082 24,084 46,166 (15) 46,181
Dec 2015 5,983,399 46,832 145,760 (319,432) 5,565,039 5,774,219 25,096 2,044 27,140 25 27,115
Jan 2016 5,565,039 237,066 214,837 (242,649) 5,344,619 5,454,829 22,878 (7,871) 15,007 652 14,355
Feb 2016 5,344,619 222,140 228,633 (135,830) 5,202,296 5,273,458 (6,454) (10,076) (16,530) 54 (16,584)
Mar 2016
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $6,163,191 $1,493,029 $1,459,551 ($994,373) $5,202,296 $5,742,907 $167,186 $27,750 $194,936 $2,118 $192,818
FY 2014-15 6,933,646 3,553,906 3,525,460 (492,796) 6,469,296 6,624,654 201,188 220,205 421,393 2,130 419,263
Amt Change (1,267,000) (881,747) (34,002) (192,455) (226,457) (12) (226,445)
% Change -19.58% -13.31% -16.90% -87.40% -53.74% -0.56% -54.01%
Note: Endowment Trusts include externally managed endowment trusts.
UTAH STATE UNIVERSITY
SUMMARY OF ENDOWMENT TRUST INVESTMENT TRANSACTIONS Schedule FSchedule D-2
For the Month of February 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Endowment Trusts
Common and Preferred Stock
BCE Inc (NEW) 2,450.000 $107,314 $100,388 ($6,926)
Columbia PPTY TR Inc Com New 0.000 3,150 0 (3,150)
HCP Incorporated 0.000 220 220 0
JP Morgan Chase & Co 1,800.000 $102,274
Funds held at Morgan Stanley - Dividends ($6,845)
Funds held at Wells Fargo - Dividends 6
Mutual Funds
Federated Total Return Bond Fund 8.589 98
Metropolitan West Total Return Bond Fund 4.158 45
Wells Fargo Advantage Core Bond Fund 3.732 48
Federated Total Return Bond Fund 8.589 98
Metropolitan West Total Return Bond Fund 4.158 45
Wells Fargo Advantage Core Bond Fund 3.728 48
Funds held at Wells Fargo - Dividends 383
Money Market & Cash Funds
Morgan Stanley Bank N.A. 126,291 102,342 102,342 0
Wells Fargo #451 19 1
Wells Fargo #451 19 1
Receivable
Morgan Stanley (6,845) 25,683 25,683 0
Total Endowment Trusts $222,140 $238,709 $228,633 ($10,076) ($6,454)
UTAH STATE UNIVERSITY
PLANT FUND TRUSTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule E-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Income (Loss) Income Expenses Income/(Loss)
Jul 2015 $19,981,232 $48,013,344 $24,143,447 $50,057 $43,901,186 $37,716,343 $27,706 $27,706 $27,706
Aug 2015 43,901,186 97,326 83,252 (6,909) 43,908,351 43,915,037 28,075 28,075 28,075
Sep 2015 43,908,351 28,379,148 7,194,469 69,691 65,162,721 51,051,794 28,262 28,262 28,262
Oct 2015 65,162,721 21,161,797 2,980,605 (31,151) 83,312,762 79,000,603 61,288 61,288 61,288
Nov 2015 83,312,762 15,396,254 15,908,218 (5,778) 82,795,020 80,897,070 62,209 62,209 62,209
Dec 2015 82,795,020 3,244,024 10,697,953 9,481 75,350,572 76,734,117 56,032 $96,216 152,248 152,248
Jan 2016 75,350,572 87,008 37,475 31,118 75,431,223 75,396,599 57,403 57,403 57,403
Feb 2016 75,431,223 45,047 5,796,346 (3,595) 69,676,329 73,877,132 55,407 55,407 55,407
Mar 2016
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $19,981,232 $116,423,948 $66,841,765 $112,914 $69,676,329 $64,823,587 $376,382 $96,216 $472,598 $0 $472,598
FY 2014-15 36,208,787 26,081,254 35,535,642 255,600 27,009,999 33,673,731 256,586 0 256,586 0 256,586
Amt Change 42,666,330 31,149,856 119,796 96,216 216,012 0 216,012
% Change 157.96% 92.50% 46.69% 100.00% 84.19% 0.00% 84.19%
Note: Plant Fund Trusts include all debt service reserve and construction fund accounts in compliance with bond issue covenants.
UTAH STATE UNIVERSITY
SUMMARY OF PLANT TRUST INVESTMENT TRANSACTIONS Schedule FSchedule E-2
For the Month of February 2016
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Plant Trusts
Wells Fargo
Federal National Mortgage Association $4,708
Federal Home Loan Bank 1,960
Riverton City Bonds 5,688
Heritage Money Market $31 $31 $31 $0
Utah Public Treasurers' Investment Fund 45,016 5,796,315 5,796,315 0 43,051
Total Plant Trusts $45,047 $5,796,346 $5,796,346 $0 $55,407
24 June 2016
ITEM FOR ACTION
RE: Report of Investments for March 2016
The Report of Investments for March 2016 is submitted to the Board of Trustees for
consideration. It has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
This set of investment reports presents investment activity for March 2016 and comparative
year-to-date totals for FY 2015-2016 and FY 2014-2015; investment portfolios at 31 March
2016; and Summary of Total Investment Returns for the quarter ended 31 March 2016 and year-
to-date 1 July 2015 to 31 March 2016.
CASH MANAGEMENT INVESTMENT POOL
The average daily fair value invested during March 2016 was $329,183,179, down $17,105,220
from February 2016. Total investment income was $121,186, down $152,447 from February
2016, reflecting the decrease in the amount available for investing and a decrease in total
investment return. The annualized total investment return was 0.44%, down 0.51% from
February 2016.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$325,369,570, up $20,177,540 (6.61%) over FY 2014-2015. Total interest income for FY 2015-
2016 amounted to $4,180,542, down $28,247 (0.67%) from FY 2014-2015, reflecting an
increase in the amount available for investing and a decrease in interest rates.
The total amount invested at 31 March 2016 was $323,502,311, down $872,976 (0.27%) from 31
March 2015. Unrealized gains at 31 March 2016 were $1,016,044.
ENDOWMENT POOL
The average daily fair value invested during March 2016 was $143,541,809, up $2,817,570 over
February 2016. Interest and dividend income of $302,795 minus net realized losses of $4,142
totaled $298,653 in realized income for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$139,192,698, up $1,973,387 (1.44%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $2,141,322, down $288,060 (11.86%) from FY 2014-2015. This decrease resulted
from $124,501 more in interest and dividends and $412,561 more net realized losses during FY
2015-2016.
The total amount invested at 31 March 2016 was $146,484,773, up $1,737,425 (1.20%) over 31
March 2015. Unrealized gains at 31 March 2016 were $14,041,532.
OTHER INVESTMENTS
The average daily fair value invested during March 2016 was $90,653,935, up $3,416,114 over
February 2016. Interest and dividend income of $363,787 plus net realized gains of $3,087
totaled $366,874 in realized income for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$87,273,864, up $8,168,750 (10.33%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $2,074,775, up $344,988 (19.94%) over FY 2014-2015. This increase resulted from
$574,842 more in interest and dividend income and $229,854 more in net realized losses during
FY 2015-2016.
The total amount invested at 31 March 2016 was $94,639,109, up $8,431,507 (9.78%) over 31
March 2015. Unrealized gains at 31 March 2016 were 10,674,781.
ENDOWMENT TRUSTS
The average daily fair value invested during March 2016 was $5,402,260 up $128,802 over
February 2016. Interest and dividend income of $6,713 minus net realized losses of $12,317
totaled $5,604 in realized loss for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$5,705,058, down $891,028 (13.51%) from FY 2014-2015. Total realized income for FY 2015-
2016 was $189,332, down $248,754 (56.78%) from FY 2014-2015. This decrease resulted from
$48,700 less interest and dividend income and $200,054 less net realized gains during FY 2015-
2016.
The total amount invested at 31 March 2016 was $5,602,223, down $663,559 (10.59%) from 31
March 2015. Unrealized losses at 31 March 2016 were $662,495.
PLANT FUND TRUSTS
The average daily fair value invested during March 2016 was $71,269,870, down $2,607,262
from February 2016. Interest income totaled $58,911 in realized income for the month.
Year-to-date numbers show that the average daily fair value invested for FY 2015-2016 was
$65,539,841, up $32,653,031 (99.29%) over FY 2014-2015. Total realized income for FY 2015-
2016 was $531,509, up $244,601 (85.25%) over FY 2014-2015. This increase reflects the
increased amount available for investing and an increase in the rate of return.
The total amount invested at 31 March 2016 was $72,551,936, up $46,907,772 (182.92%) from
31 March 2015. Unrealized gains at 31 March 2016 were $324,046.
SUMMARY OF INVESTMENT TRANSACTIONS
The University’s average daily fair value invested for the month of March was $640,051,053.
Purchases totaled $22,714,350 and sales totaled $44,387,556. From this activity the University
realized net losses of $13,372 and earnings of $1,186,124.
SUMMARY OF TOTAL INVESTMENT RETURNS
The Endowment Pool composite benchmark is established based on the asset allocation of the
Endowment Pool. At 31 March 2016 the Endowment Pool asset allocation was 13.13% cash,
24.89% fixed income, 61.98% equities. The benchmarks used include the Barclay’s Capital U.S.
Aggregate Bond Index, MSCI ACWIXUS, and the Russell 3000 index. The composite
benchmark for the Endowment Pool at 31 March 2016 was -0.98%.
The Endowment Pool trailing 12-month rate of return was 0.29% at 31 March 2016. The
Endowment Pool outperformed its benchmark by 127 bp at 31 March 2016.
The Cash Management Investment Pool trailing 12-month rate of return was 1.73% at 31 March
2016. The benchmark for the Cash Management Investment Pool is the Utah Public Treasurers’
Investment Fund (PTIF). The PTIF trailing 12-month rate of return was 0.67% at 31 March
2016. The Cash Management Investment Pool outperformed its benchmark by 106 bp at 31
March 2016.
ENDOWMNET FUNDS
The fair value of invested endowment funds at 31 March 2016 was $329.4 million, up $5.1
(1.58%) over 31 December 2015. This increase includes the change in fair value and new gifts
received through 31 March 2016.
Year-to-date, the endowment funds have increased $9.8 million (3.07%) over 30 June 2015.
Endowment funds are currently invested 38.71% in the Endowment Pool, 30.87% in the Cash
Management Investment Pool, 1.70% in the various Endowment Trusts, and 28.72% in Other
Investments.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Board of
Trustees approve the Certificate of Treasurer for March 2016.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The attached Report of Investments containing authorized transactions,
documentation, and supporting papers has been filed for review by the Board of Trustees
pertaining to the investment activities; and
WHEREAS, The investment transactions listed on the attached Report of Investments have been
approved by the USU Controller’s Office; and
WHEREAS, The investment activities listed on the attached Report of Investments are in
accordance with the Utah State Money Management Act, the rules of the Utah State Money
Management Council, the Utah State Uniform Prudent Management of Institutional Funds Act,
and the laws and rules of Utah State University and the State of Utah; and
WHEREAS, The Chief Financial Officer for Utah State University, David T. Cowley, Vice
President for Business and Finance, has certified to the best of his knowledge and belief all
investment transactions listed on the attached Report of Investments were made in accordance
with the guidelines, rules, and laws; and
WHEREAS, Vice President Cowley requests approval of the attached Report of Investments for
the period 1 March 2016 to 31 March 2016 and comparative year-to-date totals for the periods 1
July 2015 to 31 March 2016 and 1 July 2014 to 31 March 2015; and
WHEREAS, The President of Utah State University has reviewed the attached report and
recommends its approval by the Utah State University Board of Trustees; and
WHEREAS, The USU Board of Trustees has reviewed and given due consideration, review, and
authorization of the investment transactions listed on the attached Report of Investments for the
period 1 March 2016 to 31 March 2016 and comparative year-to-date totals for the periods 1 July
2015 to 31 March 2016 and 1 July 2014 to 31 March 2015;
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
attached Report of Investments as presented and ratifies the transactions listed on said Report of
Investments for March 2016.
=====================================================================
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
__________________________________
Date
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule A-1
Change Average Total Less Net
Beginning Sales in Ending Daily Interest Service Interest
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Income Charges Income
Jul 2015 $294,364,021 $14,946,300 $14,000,000 $902,403 $296,212,724 $297,423,682 $451,055 $1,929 $449,126
Aug 2015 296,212,724 16,000,000 5,000,000 153,229 307,365,953 301,951,282 436,797 0 436,797
Sep 2015 307,365,953 56,406,000 32,965,000 1,131,384 331,938,337 329,296,083 472,353 (245) 472,598
Oct 2015 331,938,337 25,377,935 22,000,000 (488,219) 334,828,053 329,558,646 461,434 5,148 456,286
Nov 2015 334,828,053 3,616,000 15,985,000 (430,304) 322,028,749 331,492,451 453,371 (75) 453,446
Dec 2015 322,028,749 18,000,000 4,989,250 (864,807) 334,174,692 326,890,636 471,077 (2,060) 473,137
Jan 2016 334,174,692 31,956,590 27,000,000 2,682,900 341,814,182 336,241,774 481,023 1 481,022
Feb 2016 341,814,182 44,480,549 32,000,000 (225,881) 354,068,850 346,288,399 499,514 (192) 499,706
Mar 2016 354,068,850 5,266,193 35,500,000 (332,732) 323,502,311 329,183,179 453,918 (25) 453,943
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $294,364,021 $216,049,567 $189,439,250 $2,527,973 $323,502,311 $325,369,570 $4,180,542 $4,481 $4,176,061
FY 2014-15 275,112,783 263,167,993 220,652,326 6,746,837 324,375,287 305,192,030 4,208,789 2,448 4,206,341
Amt Change (872,976) 20,177,540 (28,247) 2,033 (30,280)
% Change -0.27% 6.61% -0.67% 83.05% -0.72%
Note: The Cash Management Investment Pool includes cash of all funds over estimated daily operating requirements.
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL PORTFOLIO Schedule A-1-A
31 March 2016 Page 1 of 3
Interest Date Maturity Fair Unrealized
Rate Acquired Date Cost Value Gain/(Loss)
Money Market
Bank of Utah - Public Treasurer Acct 0.7720% $6,100,000 $6,100,000 $0
Cache Valley Bank 0.5000% 1,000,000 1,000,000 0
7,100,000 7,100,000 0
Public Treasurers' Investment Fund
Utah Public Treasurers' Investment Fund 0.8112% 35,100,000 35,100,000 0
35,100,000 35,100,000 0
Commercial Paper and Corporate Notes
HSBC 1.0650% 06/20/13 06/01/16 5,617,399 5,648,458 31,059
Rio Tinto 1.4820% 02/09/15 06/17/16 5,000,000 4,999,575 (425)
Wells Fargo & Company 1.1540% 07/29/13 07/20/16 4,000,000 4,005,088 5,088
Citigroup 1.7000% 09/01/15 07/25/16 5,000,000 5,008,295 8,295
Bank of America 6.5000% 06/10/15 08/01/16 1,000,000 1,017,797 17,797
Bank of America 6.5000% 08/14/15 08/01/16 5,000,000 5,088,985 88,985
American Express 2.8000% 09/01/15 09/19/16 3,406,000 3,434,981 28,981
Mississippi Power Co 2.3500% 07/14/15 10/15/16 5,000,000 5,030,590 30,590
Fifth Third Bank 1.1500% 09/14/15 11/18/16 6,000,000 6,009,672 9,672
Duke Energy 1.7500% 09/09/15 12/15/16 1,000,000 1,007,356 7,356
Alfac Inc 2.6500% 11/13/15 02/15/17 3,616,000 3,667,427 51,427
Occidental Petroleum 1.7500% 02/17/16 02/15/17 5,000,000 5,010,065 10,065
Macquarie Bank 5.0000% 01/28/16 02/22/17 5,000,000 5,158,115 158,115
Citigroup 1.3500% 01/15/16 03/10/17 4,993,100 5,002,055 8,955
Mizuho Bank 2.5500% 01/19/16 03/17/17 5,000,000 5,051,900 51,900
Rio Tinto 2.0000% 02/02/16 03/22/17 4,969,250 5,004,560 35,310
Samsung 1.7500% 01/21/16 04/10/17 5,000,000 4,995,105 (4,895)
Huntington National Bank 1.3750% 01/25/16 04/24/17 6,993,490 6,988,744 (4,746)
BMW US Capital 0.9730% 10/21/15 06/02/17 3,377,935 3,384,360 6,425
Morgan Stanley 3.5000% 09/30/14 09/30/17 2,184,000 2,234,490 50,490
Canadian Imperial Bank 0.7680% 07/13/15 11/16/17 4,946,300 4,931,710 (14,590)
Morgan Stanley 1.3530% 01/26/15 01/05/18 5,000,000 4,982,795 (17,205)
Description
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL PORTFOLIO Schedule A-1-A
31 March 2016 Page 2 of 3
Interest Date Maturity Fair Unrealized
Rate Acquired Date Cost Value Gain/(Loss)
Commercial Paper and Corporate Notes (continued)
TransCanada Pipelines 1.4110% 02/29/16 01/12/18 $9,891,300 $9,845,610 ($45,690)
Goldman Sachs 1.8180% 06/26/15 04/30/18 5,000,000 5,021,150 21,150
StatOil 0.9480% 02/25/16 05/15/18 6,878,970 6,911,380 32,410
Conoco Phillips 0.9080% 03/10/16 05/15/18 5,266,193 5,303,732 37,539
American Express 1.2080% 02/08/16 05/22/18 4,976,080 4,966,930 (9,150)
BP Capital Markets PLC 1.2600% 02/26/16 09/26/18 9,764,950 9,835,760 70,810
Goldman Sachs 1.7180% 12/15/15 11/15/18 5,000,000 4,999,500 (500)
JP Morgan 1.2510% 01/28/16 01/28/19 4,970,000 4,977,970 7,970
Morgan Stanley 1.9960% 02/17/16 02/01/19 3,000,000 3,028,494 28,494
151,850,967 152,552,649 701,682
Obligations of U. S. Government
Federal Farm Credit FFCB 1.0400% 09/02/15 03/01/18 5,000,000 5,000,040 40
Federal Farm Credit FFCB 1.3300% 09/03/15 12/03/18 7,000,000 7,000,812 812
Federal Farm Credit FFCB 1.5400% 04/01/15 04/01/19 5,000,000 5,000,000 0
Federal Farm Credit FFCB 1.6800% 04/27/15 04/27/20 5,000,000 5,004,610 4,610
Freddie Mac FHLMC 1.5000% 09/30/15 09/30/20 10,000,000 10,008,980 8,980
Freddie Mac FHLMC 1.2500% 09/30/15 09/30/20 7,000,000 7,014,238 14,238
Federal Farm Credit FFCB 1.9400% 10/13/15 07/13/21 7,000,000 7,000,973 973
Federal Farm Credit FFCB 2.0400% 09/30/15 09/29/21 7,000,000 7,000,007 7
Federal Farm Credit FFCB 1.9400% 10/13/15 10/13/21 5,000,000 4,991,525 (8,475)
Federal Farm Credit FFCB 2.2700% 10/21/15 10/21/22 5,000,000 4,987,005 (12,995)
Freddie Mac FHLMC 1.5000% 10/27/15 10/27/23 5,000,000 5,000,350 350
Fed Home Loan Bank FHLB 2.5400% 01/11/13 12/27/24 10,125,000 10,125,162 162
Federal Farm Credit FFCB 2.7000% 01/16/13 12/24/25 5,000,000 5,000,000 0
Fannie Mae FNMA 2.1250% 08/27/12 08/27/27 10,000,000 9,996,160 (3,840)
Federal Farm Credit FFCB 2.9000% 11/26/12 11/26/27 7,000,000 7,000,091 91
Fed Home Loan Bank FHLB 2.9500% 01/15/13 12/06/27 5,000,000 5,000,000 0
Federal Farm Credit FFCB 2.9700% 12/24/12 12/24/27 5,000,000 5,000,060 60
Freddie Mac FHLMC 3.0000% 01/18/13 01/18/28 7,000,000 7,000,175 175
117,125,000 117,130,188 5,188
Description
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL PORTFOLIO Schedule A-1-A
31 March 2016 Page 3 of 3
Interest Date Maturity Fair Unrealized
Rate Acquired Date Cost Value Gain/(Loss)
Municipal Bonds
West Valley City Bonds 4.8500% 10/20/10 11/01/16 $1,050,000 $1,050,000 $0
West Valley City Bonds 4.8500% 10/20/10 11/01/17 1,115,000 1,115,000 0
West Valley City Bonds 4.8500% 10/20/10 11/01/18 1,180,000 1,180,000 0
Utah State Building Owners 1.5000% 05/05/14 05/15/19 965,300 991,284 25,984
Salt Lake City Municipal 2.0700% 03/30/15 10/01/19 1,000,000 1,034,230 34,230
West Valley City Bonds 4.8500% 10/20/10 11/01/19 1,255,000 1,255,000 0
Utah County UT Bonds 4.9200% 01/17/14 12/01/19 1,000,000 1,120,810 120,810
West Valley City Bonds 4.8500% 10/20/10 11/01/20 1,330,000 1,330,000 0
Utah County UT Bonds 5.1700% 01/17/14 12/01/20 1,000,000 1,128,150 128,150
West Valley City Bonds 4.8500% 10/20/10 11/01/21 1,415,000 1,415,000 0
11,310,300 11,619,474 309,174
Total Cash Management Investment Pool $322,486,267 $323,502,311 $1,016,044
Description
For the Month of March 2016 Schedule A-2
Change Total Average Annualized
Sales in Investment Daily Total Investment
Purchases Cost Receipts Earnings Fair Value Income Fair Value Return
Money Market Account $4,426 $4,426 $7,100,000 0.75%
Utah Public Treasurers'
Investment Fund $13,000,000 $13,000,000 25,871 25,871 37,035,484 0.84%
Commercial Paper and
Corporate Notes $5,266,193 10,000,000 10,000,000 174,059 $461,499 635,558 153,709,169 4.96%
Obligations of U. S. Government 7,500,000 7,500,000 213,314 163,130 376,444 120,028,226 3.76%
Municipal Bonds 5,000,000 5,000,000 36,248 (957,361) (921,113) 11,310,300 -97.73%
Total $5,266,193 $35,500,000 $35,500,000 $453,918 ($332,732) $121,186 $329,183,179 0.44%
UTAH STATE UNIVERSITY
CASH MANAGEMENT INVESTMENT POOL
SUMMARY OF INVESTMENT TRANSACTIONS AND PERFORMANCE
UTAH STATE UNIVERSITY
SUMMARY OF CASH MANAGEMENT INVESTMENT POOL TRANSACTIONS Schedule A-3
For the Month of March 2016
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Cash Management Investment Pool
Money Market Account $4,426
Utah Public Treasurers'
Investment Fund $13,000,000 $13,000,000 $0 25,871
Commercial Paper & Corporate Notes $5,266,193 10,000,000 10,000,000 0 174,059
Obligations of U. S. Government 7,500,000 7,500,000 0 213,314
Municipal Bonds 5,000,000 5,000,000 0 36,248
Total Cash Management Investment Pool $5,266,193 $35,500,000 $35,500,000 $0 $453,918
UTAH STATE UNIVERSITY
ENDOWMENT POOL
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule B-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest and Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income Expenses Income/(Loss)
*Jul 2015 $140,117,856 $2,520,525 $2,173,100 $181,736 $140,647,017 $140,382,437 $347,424 ($8,843) $338,581 $0 $338,581
Aug 2015 140,647,017 1,837,952 1,713,829 (4,951,833) 135,819,307 138,233,162 134,772 (2,640) 132,132 10,649 121,483
Sep 2015 135,819,307 1,926,694 1,588,867 (2,036,977) 134,120,157 134,969,732 337,826 (7,985) 329,841 0 329,841
Oct 2015 134,120,157 2,202,941 1,249,036 4,749,664 139,823,726 136,971,942 183,235 (6,070) 177,165 7,483 169,682
Nov 2015 139,823,726 1,110,008 986,298 (585,958) 139,361,478 139,592,602 134,169 (983) 133,186 10,459 122,727
Dec 2015 139,361,478 2,546,307 2,089,989 (1,604,993) 138,212,803 138,787,141 456,320 (3,779) 452,541 0 452,541
Jan 2016 138,212,803 7,368,674 1,325,868 (3,405,975) 140,849,634 139,531,219 173,375 (16,250) 157,125 7,463 149,662
Feb 2016 140,849,634 419,723 298,559 (371,954) 140,598,844 140,724,239 131,438 (9,340) 122,098 10,274 111,824
Mar 2016 140,598,844 1,199,336 896,541 5,583,134 146,484,773 143,541,809 302,795 (4,142) 298,653 0 298,653
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $140,117,856 $21,132,160 $12,322,087 ($2,443,156) $146,484,773 $139,192,698 $2,201,354 ($60,032) $2,141,322 $46,328 $2,094,994
FY 2014-15 133,500,784 44,044,595 34,015,891 1,217,860 144,747,348 137,219,311 2,076,853 352,529 2,429,382 30,051 2,399,331
Amt Change 1,737,425 1,973,387 124,501 (412,561) (288,060) 16,277 (304,337)
% Change 1.20% 1.44% 5.99% -117.03% -11.86% 54.16% -12.68%
Note: The Endowment Pool includes endowment funds designated for long-term investment. Included in this pool are endowment funds invested in the University's Cash
Management Investment Pool (CMIP) consisting of $18,929,757 principal beginning balance, a $18,955,847 ending balance, and a $18,942,802 average daily balance for the
current month. Current month interest and dividends from the CMIP were $26,090 bringing the total to $192,974 year-to-date. These amounts have also been reported in
Schedules A-1 and A-2.
*The July beginning fair value has been adjusted to reflect the amount distributed to expendable accounts at fiscal year end.
UTAH STATE UNIVERSITY
ENDOWMENT POOL
INVESTMENT PERFORMANCE Schedule B-1-A
Fair Value Per Unit
Total Number Beginning End of Percent Net Earnings
of Units of Month Month Change Earnings Per Unit
July 2015 533,704.19 $262.5384 $263.5299 0.38% $347,424 $0.6510
August 2015 533,704.19 263.5299 254.4842 -3.43% 134,772 0.2525
September 2015 533,704.19 254.4842 251.3006 -1.25% 337,826 0.6330
October 2015 536,800.70 251.3006 260.4761 3.65% 183,235 0.3413
November 2015 536,800.70 260.4761 259.6149 -0.33% 134,169 0.2499
December 2015 536,800.70 259.6149 257.4751 -0.82% 456,320 0.8501
January 2016 559,625.79 257.4751 251.6854 -2.25% 173,375 0.3098
February 2016 559,625.79 251.6854 251.2372 -0.18% 131,438 0.2349
March 2016 559,625.79 251.2372 261.7549 4.19% 302,795 0.5411
April 2016
May 2016
June 2016
UTAH STATE UNIVERSITY
ENDOWMENT POOL PORTFOLIO Schedule B-2-ASchedule B-1-B
March 31, 2016 Page 1 of 3
Face Number Interest Date Maturity Fair Unrealized
Description Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Cash Management Investment Pool $18,955,847 $18,955,847 $0
Total Cash Management Investment Pool 18,955,847 18,955,847 0
Equity funds
Dimensional (DFA) 146,950.921 4,285,987 3,256,432 (1,029,555)
RhumbLine QSI Index 818,348.470 9,983,519 13,869,123 3,885,604
SIT Dividend Growth 10,000,000 13,103,108 3,103,108
Vanguard Russell 3000 61,018.849 8,599,646 11,081,023 2,481,377
Vanguard FTSE All-World ex-US Index Fund 157,655.519 14,588,334 13,411,755 (1,176,579)
UTS SPDR Trust Ser 1 (SPY) 46,989.000 3,983,736 9,657,179 5,673,443
Total Equities 51,441,222 64,378,620 12,937,398
Fixed Income funds
Longfellow 10,035,398 9,959,046 (76,352)
High Yield Bond Fund 693,206.187 7,430,537 6,631,230 (799,307)
Oaktree Senior Loan Fund, L.P. 9,249,431 9,127,640 (121,791)
Paydenfunds - Emerging Markets Bond Fund 222,482.538 3,027,368 2,923,421 (103,947)
Stone Harbor Emerging Market 292,865.412 3,104,765 2,934,511 (170,254)
Vanguard ST Inflation Protected Securities Index 198,455.702 4,924,688 4,885,979 (38,709)
Total Fixed Income Funds 37,772,187 36,461,827 (1,310,360)
Alternatives
Aether Investment Partners, LLC
Aether Real Assets IV, LP 20,000 20,000 0
Commonfund
CEP VII 365,888 847,658 481,770
CEP VIII 658,095 851,200 193,105
CNR VIII 1,021,299 982,360 (38,939)
CNR IX 678,750 563,965 (114,785)
CVP X 689,285 998,200 308,915
UTAH STATE UNIVERSITY
ENDOWMENT POOL PORTFOLIO Schedule B-2-ASchedule B-1-B
March 31, 2016 Page 2 of 3
Face Number Interest Date Maturity Fair Unrealized
Description Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Alternatives (continued)
Constitution Capital
Ironsides Co-Investment Fund III $971,716 $1,176,947 $205,231
Ironsides Partnership Fund III 122,619 130,540 7,921
Goldman Sachs
Vintage Fund VI 951,499 1,129,270 177,771
International Fund Services
AQR International Equity Fund II, L.P. 5,000,000 4,775,829 (224,171)
Morgan Stanley
JP Morgan Prime Property Fund 307.156 4,313,381 5,118,506 805,125
Pinehurst Institutional Ltd.
Corbin 2,570.327 4,000,000 3,782,854 (217,146)
Solamere Capital
Solamere Founders Fund I, LP 975,620 1,666,884 691,264
Solamere Founders Fund II, LP 907,756 846,601 (61,155)
Woodbury
Woodbury Strategic Partners Fund, L.P. 2,173,361 2,413,324 239,963
Woodbury Capital II, LP 596,734 611,094 14,360
WSP Centre Point Co-Investors, LLC 119,938 65,203 (54,735)
WSP Wilmington, Phase I 100,000 100,000 0
WSP Wilmington, Phase II 334,414 334,414 0
Total Alternatives 24,000,355 26,414,849 2,414,494
Money Market Funds
Money Market - 05374002 2 2 0
Goldman Sachs Bank Deposit 39,306 39,306 0
Total Money Market 39,308 39,308 0
UTAH STATE UNIVERSITY
ENDOWMENT POOL PORTFOLIO Schedule B-2-ASchedule B-1-B
March 31, 2016 Page 3 of 3
Face Number Interest Date Maturity Fair Unrealized
Description Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Accrued Income / Other
05374002
Cash $12,350 $12,350 $0
Wells Fargo - High Yield 39,006 39,006 0
Wells Fargo - SPY 49,320 49,320 0
05374004
Cash 212,597 212,597 0
Interest Accrual 56,411 56,411 0
Payable (135,362) (135,362) 0
Total Accruals 234,322 234,322 0
Total Endowment Pool $132,443,241 $146,484,773 $14,041,532
UTAH STATE UNIVERSITY
SUMMARY OF ENDOWMENT POOL TRANSACTIONS Schedule FSchedule B-2
For the Month of March 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Endowment Pool Transactions
Cash Management Investment Pool
Utah State University $26,090
CMIP Interest $26,090
Equity funds
Dimensional (DFA) 364.350 8,074 8,074
Vanguard Russell 3000 266.396 48,055 48,055
Vanguard FTSE All-World ex-US Index Fund 550.362 46,346 46,346
UTS SPDR Trust Ser 1 (SPY) 49,320
Fixed Income funds
Longfellow 275,534 $112,748 $108,606 ($4,142) 24,510
Wells Fargo
High Yield Bond Fund 4,264.543 39,386 39,006
Paydenfunds - Emerging Markets Bond Fund 900.862 11,810 11,810
Alternatives
Aether Investment Partners, LLC
Aether Real Assets IV, LP 20,000
Commonfund
CEP VII 2,500 10,647 10,647 0
CEP VIII 15,000 15,000 15,000 0
CNR VIII 15,000 5,793 5,793 0
CVP X 22,500
Goldman Sachs
Vintage Fund VI 39,303 39,303 0
Morgan Stanley
JP Morgan Prime Property Fund 2.975 49,582 49,582
Solamere Capital
Solamere Founders Fund I, LP 46,433 46,433 46,433 0
Money Market Funds
Goldman Sachs Bank Deposit 39,305 2
Accrued Income / Other
05374002
Cash 281,126 324,686 324,686 0
Wells Fargo - High Yield 39,006 39,386 39,386 0
Wells Fargo - SPY 49,320
05374004
Cash 137,534 142,396 142,396 0
Interest Accrual 26,735 28,929 28,929 0
Payable 135,362 135,362 0
Total Endowment Pool Transactions $1,199,336 $900,683 $896,541 ($4,142) $302,795
UTAH STATE UNIVERSITY
OTHER INVESTMENTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule C-1
Change Average Total Realized Total
Beginning Sales in Ending Daily Interest and Gain or Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income
Jul 2015 $85,525,373 $1,171,824 $901,845 $365,533 $86,160,885 $85,843,129 $369,263 $3,153 $372,416
Aug 2015 86,160,885 2,287,414 1,842,208 (1,213,162) 85,392,929 85,776,907 222,820 2,998 225,818
Sep 2015 85,392,929 1,717,966 1,365,967 (221,940) 85,522,988 85,457,959 357,380 (23,272) 334,108
Oct 2015 85,522,988 7,154,696 5,261,462 1,298,112 88,714,334 87,118,661 318,333 (51,784) 266,549
Nov 2015 88,714,334 4,974,331 5,858,304 15,626 87,845,987 88,280,161 276,901 (127,276) 149,625
Dec 2015 87,845,987 11,188,303 10,747,738 (1,016,778) 87,269,774 87,557,881 469,128 18,379 487,507
Jan 2016 87,269,774 6,276,650 5,094,838 (644,705) 87,806,881 87,538,328 331,777 (149,467) 182,310
Feb 2016 87,806,881 5,043,347 5,748,157 (433,311) 86,668,760 87,237,821 277,788 (588,220) (310,432)
Mar 2016 86,668,760 5,670,616 288,738 2,588,471 94,639,109 90,653,935 363,787 3,087 366,874
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $85,525,373 $45,485,147 $37,109,257 $737,846 $94,639,109 $87,273,864 $2,987,177 ($912,402) $2,074,775
FY 2014-15 54,409,537 86,759,820 55,293,393 331,638 86,207,602 79,105,114 2,412,335 (682,548) 1,729,787
Amt Change 8,431,507 8,168,750 574,842 (229,854) 344,988
% Change 9.78% 10.33% 23.83% -33.68% 19.94%
UTAH STATE UNIVERSITY
OTHER INVESTMENTS PORTFOLIO Schedule C-1-A
31 March 2016 Page 1 of 4
Face Number Interest Date Maturity Fair Unrealized
Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Corporate Bonds and Notes
U.S. Treasury Bond $100,000 8.000% 11/15/91 11/15/21 $125,313 $136,082 $10,769
125,313 136,082 10,769
Utah Public Treasurers' Investment Fund 0.811% 842,867 842,867 0
842,867 842,867 0
Fixed Income
Wells Fargo
Federal Farm Credit Bank 50,000.000 5,000,000 5,000,100 100
Federal Farm Credit Bank 21,520.000 2,171,982 2,152,000 (19,982)
Federal Home Loan Bank 46,750.000 4,675,000 4,621,425 (53,575)
Beaver County Utah School District 50,000.000 5,000,000 5,890,000 890,000
Chicago Ill Genl Obligation Bonds 10,000.000 1,060,567 991,070 (69,497)
Chicago Ill Genl Obligation Bonds 7,250.000 715,909 535,362 (180,547)
Chicago Ill Genl Obligation Bonds 10,000.000 1,030,170 738,360 (291,810)
Fresno California Water Sys Rev BAB 10,000.000 1,027,500 1,212,580 185,080
Southern Ill Univ Revs Build America Bonds 16,450.000 1,772,471 1,788,049 15,578
Assured Guarany Muni 10,000.000 936,000 680,000 (256,000)
AXA SA 10,000.000 1,019,450 1,022,500 3,050
Security Benefit Life 20,350.000 2,249,591 2,578,221 328,630
Bank of America 5,000.000 575,000 492,500 (82,500)
Wachovia 10,000.000 1,000,000 987,500 (12,500)
Zions Bancorp 10,000.000 1,000,000 950,000 (50,000)
Zions Bancorp 10,000.000 1,000,000 1,022,500 22,500
Bed Bath & Beyond Inc 5,000.000 443,170 422,865 (20,305)
ConocoPhillips 10,000.000 1,061,960 1,093,460 31,500
Diamond Offshore Drill 9,570.000 920,385 657,593 (262,792)
General Electric 11,840.000 1,055,181 1,123,320 68,139
Halliburton Company 10,000.000 1,264,270 1,172,210 (92,060)
Monsanto Co 12,500.000 994,563 1,080,125 85,562
Oneok, Inc 5,000.000 467,784 381,875 (85,909)
Prudential Financial 10,000.000 972,100 1,018,500 46,400
Description
UTAH STATE UNIVERSITY
OTHER INVESTMENTS PORTFOLIO Schedule C-1-A
31 March 2016 Page 2 of 4
Face Number Interest Date Maturity Fair Unrealized
Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Fixed Income (continued)
Wells Fargo
Barclays Bank 20,000.000 $1,980,000 $2,069,060 $89,060
BHP Billiton Fin USA Ltd 10,000.000 1,029,625 1,000,000 (29,625)
Electricite De France 10,000.000 1,001,400 915,000 (86,400)
QBE Cap Funding III LTD 20,000.000 2,158,200 2,160,000 1,800
Rio Tinto Fin USA LTD 11,000.000 978,978 1,124,409 145,431
Trans-Canada Pipelines 10,000.000 1,006,200 1,083,640 77,440
Equity Commonwealth Preferred 42,000.000 950,250 1,050,840 100,590
Public Storage 20,000.000 500,000 514,200 14,200
Allstate Corp 24,400.000 613,660 669,780 56,120
American Financial Group 60,000.000 1,500,000 1,596,000 96,000
Berkley (WR) Corporation 40,000.000 935,000 1,002,800 67,800
Capital One Financial 20,000.000 500,000 520,000 20,000
Charles Schwab 20,000.000 500,000 527,600 27,600
Citigroup Inc 5.800% 20,000.000 500,000 515,800 15,800
Cobank ACB 6.125% 13,000.000 1,235,000 1,248,000 13,000
Cobank ACB 6.250% 10,000.000 1,101,290 1,022,500 (78,790)
Hancock Holding Co 61,000.000 1,518,375 1,523,475 5,100
HSBC USA Inc New 20,000.000 485,800 504,800 19,000
JP Morgan Chase & Co 6.125 60,120.000 1,499,994 1,574,543 74,549
JP Morgan Chase & Co 6.100 20,000.000 494,000 522,600 28,600
Qwest Corp 6.875% 100,000.000 2,494,400 2,550,000 55,600
Southern Co 6.25% 40,000.000 1,000,000 1,093,200 93,200
State Street Corp 80,000.000 2,000,000 2,124,800 124,800
Texas Capital Bancshares 40,000.000 990,000 940,400 (49,600)
Wells Fargo & Co 20,000.000 483,000 527,200 44,200
Wells Fargo & Co 20,000.000 500,000 526,400 26,400
65,368,225 66,519,162 1,150,937
Description
UTAH STATE UNIVERSITY
OTHER INVESTMENTS PORTFOLIO Schedule C-1-A
31 March 2016 Page 3 of 4
Face Number Interest Date Maturity Fair Unrealized
Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Mutual Funds
American Funds CI A
American Balanced Fund - Class A 734.586 $12,740 $17,740 $5,000
AMCAP Fund-F1 2,380.280 64,604 61,554 (3,050)
The Growth Fund of America - Class A 253.365 8,486 10,195 1,709
The Growth Fund of America - Class A 14,623.042 489,768 588,431 98,663
The New Economy Fund-Fund1 1,822.596 69,466 63,627 (5,839)
New World Fund-F1 1,034.060 51,509 51,424 (85)
Washington Mutual Investors Fund-F1 1,513.109 60,933 58,739 (2,194)
Commonfund
CEU Title III
Multi-Strategy Bond 355,490.471 4,448,257 5,242,854 794,597
Multi-Strategy Equity 44,409.822 4,167,074 12,706,817 8,539,743
Putnam Funds Class A
Putnam High Yield Cl-A 3,064.015 22,972 21,755 (1,217)
Vanguard
500 Index Fund Admiral Shares 132.669 15,270 25,204 9,934
Total Bond Market Index Fund Admiral Shares 1,583.738 17,265 17,263 (2)
500 Index Fund Admiral Shares 134.896 15,388 25,628 10,240
Total Bond Market Index Fund Admiral Shares 2,099.460 22,888 22,884 (4)
9,466,620 18,914,115 9,447,495
Alternatives
Dakota Pacific Real Estate Group
Dakota Pacific Real Estate 57,548 53,697 (3,851)
InvenTrust Properties
Inventrust Properties Corp 18,843.839 132,246 75,375 (56,871)
Morgan Stanley Smith Barney
MS Opp Mortgage Inc Fund 2,000,000 1,998,973 (1,027)
vSpring
Kickstart Seed Fund 1, L.P. 154,297 227,739 73,442
Description
UTAH STATE UNIVERSITY
OTHER INVESTMENTS PORTFOLIO Schedule C-1-A
31 March 2016 Page 4 of 4
Face Number Interest Date Maturity Fair Unrealized
Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Alternatives (continued)
Woodbury
Woodbury Strategic Partners Fund $746,446 $804,441 $57,995
Woodbury Capital II, LP 600,000 611,094 11,094
WSP Wilmington, Phase I 35,000 35,000 0
WSP Wilmington, Phase II 465,000 465,000 0
Xenia Hotels & Resorts
Xenia 2355.000 51,987 36,785 (15,202)
4,242,524 4,308,104 65,580
Money Market / Cash
Edward Jones 2 2 0
Morgan Stanley Bank N.A. 72,772 72,772 0
Morgan Stanley 7 7 0
SEI - Prime Obligation Fund 75 75 0
Wells Fargo - Cash 3,119,333 3,119,333 0
3,192,189 3,192,189 0
Receivable / In Transit / Unsettled Purchases
Commonfund 94,907 94,907 0
Wells Fargo - Receivable 628,661 628,661 0
U.S. Treasury Bond 3,022 3,022 0
726,590 726,590 0
Total Other Investments $83,964,328 $94,639,109 $10,674,781
Description
UTAH STATE UNIVERSITY
SUMMARY OF OTHER INVESTMENT TRANSACTIONS Schedule C-2
For the Month of March 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Other Investments
Corporate Bonds and Notes
U.S. Treasury Bond $711
Utah Public Treasurers'
Investment Fund $588 588
Fixed Income
Beaver County Utah School District 50,000.000 5,000,000
Wells Fargo - Earnings 294,563
Mutual Funds
American Funds CI A
American Balanced Fund - Class A 74
Washington Mutual Investors Fund-F1 7.122 276 276
Commonfund
CEU Title III
Multi-Strategy Bond 89.450 $930 $1,319 $389 28,426
Multi-Strategy Equity 11.996 734 3,432 2,698 38,310
Putnam Funds Class A
Putnam High Yield Cl-A 46.523 319 319
Vanguard
500 Index Fund Admiral Shares 0.709 134 134
Total Bond Market Index Fund Admiral Shares 9.899 107 107
500 Index Fund Admiral Shares 0.721 136 136
Total Bond Market Index Fund Admiral Shares 13.121 142 142
Money Market / Cash
Morgan Stanley 1 1
Wells Fargo - Cash 283,987
Receivable / In Transit / Unsettled Purchases
Commonfund 66,736
Wells Fargo - Receivable 317,479 283,987 283,987 0
U.S. Treasury Bond 711
Total Other Investments $5,670,616 $285,651 $288,738 $3,087 $363,787
UTAH STATE UNIVERSITY
ENDOWMENT TRUSTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule D-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest and Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Dividends (Loss) Income (Loss) Expenses Income/(Loss)
Jul 2015 $6,163,191 $345,495 $322,446 ($81,023) $6,105,217 $6,134,204 $23,699 $35,725 $59,424 $651 $58,773
Aug 2015 6,105,217 67,548 46,278 (376,776) 5,749,711 5,927,464 28,954 0 28,954 74 28,880
Sep 2015 5,749,711 198,010 173,103 (282,325) 5,492,293 5,621,002 24,933 (16,141) 8,792 25 8,767
Oct 2015 5,492,293 47,466 22,120 502,599 6,020,238 5,756,266 25,998 (15) 25,983 652 25,331
Nov 2015 6,020,238 328,472 306,374 (58,937) 5,983,399 6,001,819 22,082 24,084 46,166 (15) 46,181
Dec 2015 5,983,399 46,832 145,760 (319,432) 5,565,039 5,774,219 25,096 2,044 27,140 25 27,115
Jan 2016 5,565,039 237,066 214,837 (242,649) 5,344,619 5,454,829 22,878 (7,871) 15,007 652 14,355
Feb 2016 5,344,619 222,140 228,633 (135,830) 5,202,296 5,273,458 (6,454) (10,076) (16,530) 54 (16,584)
Mar 2016 5,202,296 171,659 164,970 393,238 5,602,223 5,402,260 6,713 (12,317) (5,604) 24 (5,628)
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $6,163,191 $1,664,688 $1,624,521 ($601,135) $5,602,223 $5,705,058 $173,899 $15,433 $189,332 $2,142 $187,190
FY 2014-15 6,933,646 3,582,062 3,525,460 (724,466) 6,265,782 6,596,086 222,599 215,487 438,086 2,114 435,972
Amt Change (663,559) (891,028) (48,700) (200,054) (248,754) 28 (248,782)
% Change -10.59% -13.51% -21.88% -92.84% -56.78% 1.32% -57.06%
Note: Endowment Trusts include externally managed endowment trusts.
UTAH STATE UNIVERSITY
ENDOWMENT TRUSTS PORTFOLIO Schedule D-1-A
31 March 2016 Page 1 of 3
Number Fair Unrealized
of Shares Cost Value Gain/(Loss)
Common and Preferred Stock
Abbvie Inc Com 1,300.000 $73,930 $74,256 $326
Altria Group Inc. 1,000.000 16,108 62,660 46,552
Amgen Inc 700.000 106,695 104,951 (1,744)
Apple Inc 3,150.000 252,322 343,319 90,997
AT & T Inc 5,300.000 174,711 207,601 32,890
BCE Inc (NEW) 2,450.000 107,108 111,573 4,465
Blackstone Group LP 12,800.000 544,799 359,040 (185,759)
BP Plc. Ads 8,000.000 402,692 241,440 (161,252)
CenturyLink Inc. 6,800.000 248,010 217,328 (30,682)
Chevron Corp 3,100.000 318,906 295,740 (23,166)
ConocoPhillips 4,500.000 285,535 181,215 (104,320)
Enterprise Prod Partners 2,800.000 78,049 68,936 (9,113)
General Electric 17,900.000 178,339 569,041 390,702
Glaxosmithkline PLC ADS 8,400.000 392,297 340,620 (51,677)
HCP Incorporated 4,000.000 151,397 130,320 (21,077)
JP Morgan Chase & Co 5,800.000 247,480 343,476 95,996
Merck & Co Inc. New Com 10,200.000 425,455 539,682 114,227
PBF Energy Inc 8,800.000 206,400 292,160 85,760
PJT Partners Inc Com Class A 320.000 1,219 7,696 6,477
Prospect Capital Corp 19,500.000 203,690 141,765 (61,925)
SeaDrill Ltd. 12,500.000 404,045 41,250 (362,795)
SeaDrill Partners LLC 16,500.000 468,619 57,420 (411,199)
Verizon Communications 3,782.000 187,010 204,531 17,521
Vodafone Group PLC 4,527.000 239,344 145,090 (94,254)
Zions Bancorp 4,500.000 138,225 108,945 (29,280)
Acadian Emerging Markets 108.328 2,063 1,683 (380)
Causeway Intl Value Fund I 189.223 3,057 2,539 (518)
Delaware US Growth Fd 64.111 1,429 1,537 108
Goldman Sacs Small Cap Value Fund 10.603 532 531 (1)
Harbor International Fund Class 47.766 3,014 2,853 (161)
Invesco Small Cap Growth Fund 16.732 600 576 (24)
Description
UTAH STATE UNIVERSITY
ENDOWMENT TRUSTS PORTFOLIO Schedule D-1-A
31 March 2016 Page 2 of 3
Number Fair Unrealized
of Shares Cost Value Gain/(Loss)
Common and Preferred Stock (continued)
JP Morgan Small Cap Equity Fund 34.077 $1,510 $1,554 $44
Lazard Intl Equity Port - Instl #632 159.798 2,816 2,705 (111)
MFS Value Fund 80.441 2,337 2,700 363
Northern Mid Cap Index Fund 314.082 4,687 5,148 461
T Rowe Price Equity Income 93.300 2,761 2,719 (42)
T Rowe Price Institutional Large CP Growth 107.447 2,261 2,904 643
Vanguard 500 Index Fund - Adm #540 58.358 8,997 11,087 2,090
Wells Fargo Advantage Growth Fund 36.467 1,677 1,585 (92)
Acadian Emerging Markets 108.310 2,062 1,683 (379)
Causeway Intl Value Fund I 189.193 3,056 2,539 (517)
Delaware US Growth Fd 64.100 1,429 1,536 107
Goldman Sacs Small Cap Value Fund 10.601 532 531 (1)
Harbor International Fund Class 47.759 3,013 2,853 (160)
Invesco Small Cap Growth Fund 16.726 600 576 (24)
JP Morgan Small Cap Equity Fund 34.072 1,510 1,553 43
Lazard Intl Equity Port - Instl #632 159.772 2,816 2,705 (111)
MFS Value Fund 80.429 2,336 2,699 363
Northern Mid Cap Index Fund 314.030 4,686 5,147 461
T Rowe Price Equity Income 93.285 2,760 2,718 (42)
T Rowe Price Institutional Large CP Growth 107.429 2,261 2,904 643
Vanguard 500 Index Fund - Adm #540 58.349 8,995 11,085 2,090
Wells Fargo Advantage Growth Fund 36.463 1,676 1,584 (92)
5,927,858 5,270,289 (657,569)
Mutual Funds
Dodge & Cox Income Fund Com #147 2,308.164 32,055 31,091 (964)
Federated Total Return Bond Fund 2,862.932 32,484 31,034 (1,450)
Metropolitan West Total Return Bond Fund 2,900.157 31,720 31,409 (311)
Wells Fargo Advantage Core Bond Fund 2,386.164 30,591 30,853 262
Dodge & Cox Income Fund Com #147 2,307.795 32,050 31,086 (964)
Federated Total Return Bond Fund 2,862.474 32,479 31,029 (1,450)
Metropolitan West Total Return Bond Fund 2,899.694 31,715 31,404 (311)
Description
UTAH STATE UNIVERSITY
ENDOWMENT TRUSTS PORTFOLIO Schedule D-1-A
31 March 2016 Page 3 of 3
Number Fair Unrealized
of Shares Cost Value Gain/(Loss)
Mutual Funds
Wells Fargo Advantage Core Bond Fund 2,385.778 $30,586 $30,848 $262
253,680 248,754 (4,926)
Money Market & Cash Funds
Federated Treasury Obligations Fund 67,250 67,250 0
Wells Fargo #451 5,029 5,029 0
Wells Fargo #451 5,029 5,029 0
77,308 77,308 0
Receivable
Morgan Stanley 5,872 5,872 0
5,872 5,872 0
Total Endowment Trusts Total Endowment TrustsTotal Endowment Trusts $6,264,718 $5,602,223 ($662,495)
Description
UTAH STATE UNIVERSITY
SUMMARY OF ENDOWMENT TRUST INVESTMENT TRANSACTIONS Schedule FSchedule D-2
For the Month of March 2016 Page 1 of 1
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Endowment Trusts
Common and Preferred Stock
Abbvie Inc Com 1,300.000 $73,930
Columbia PPTY TR Inc Com New 3,500.000 $84,371 $72,054 ($12,317)
MFS Value Fund 0.311 10
T Rowe Price Equity Income 0.320 9
Vanguard 500 Index Fund - Adm #540 0.312 59
MFS Value Fund 0.311 11
T Rowe Price Equity Income 0.320 9
Vanguard 500 Index Fund - Adm #540 0.312 59
Funds held at Morgan Stanley - Dividends $5,597
Funds held at Wells Fargo - Dividends 161
Mutual Funds
Dodge & Cox Income Fund Com #147 22.853 306
Federated Total Return Bond Fund 7.962 85
Metropolitan West Total Return Bond Fund 3.657 39
Wells Fargo Advantage Core Bond Fund 3.537 46
Dodge & Cox Income Fund Com #147 22.850 306
Federated Total Return Bond Fund 7.960 85
Metropolitan West Total Return Bond Fund 3.657 39
Wells Fargo Advantage Core Bond Fund 3.537 46
Funds held at Wells Fargo - Dividends 952
Money Market & Cash Funds
Morgan Stanley Bank N.A. 91,000 73,970 73,970 0 1
Wells Fargo #451 11 1
Wells Fargo #451 11 1
Receivable
Morgan Stanley 5,598 18,946 18,946 0
Total Endowment Trusts $171,659 $177,287 $164,970 ($12,317) $6,713
UTAH STATE UNIVERSITY
PLANT FUND TRUSTS
SUMMARY REPORT OF INVESTMENTS AND INVESTMENT INCOME Schedule E-1
Change Average Total Realized Total Net
Beginning Sales in Ending Daily Interest Gain or Realized Less Realized
Fair Value Purchases Proceeds Fair Value Fair Value Fair Value Income (Loss) Income Expenses Income/(Loss)
Jul 2015 $19,981,232 $48,013,344 $24,143,447 $50,057 $43,901,186 $37,716,343 $27,706 $27,706 $27,706
Aug 2015 43,901,186 97,326 83,252 (6,909) 43,908,351 43,915,037 28,075 28,075 28,075
Sep 2015 43,908,351 28,379,148 7,194,469 69,691 65,162,721 51,051,794 28,262 28,262 28,262
Oct 2015 65,162,721 21,161,797 2,980,605 (31,151) 83,312,762 79,000,603 61,288 61,288 61,288
Nov 2015 83,312,762 15,396,254 15,908,218 (5,778) 82,795,020 80,897,070 62,209 62,209 62,209
Dec 2015 82,795,020 3,244,024 10,697,953 9,481 75,350,572 76,734,117 56,032 $96,216 152,248 152,248
Jan 2016 75,350,572 87,008 37,475 31,118 75,431,223 75,396,599 57,403 57,403 57,403
Feb 2016 75,431,223 45,047 5,796,346 (3,595) 69,676,329 73,877,132 55,407 55,407 55,407
Mar 2016 69,676,329 10,406,546 7,537,307 6,368 72,551,936 71,269,870 58,911 58,911 58,911
Apr 2016
May 2016
Jun 2016
Comparative Totals:
Year-to-date
FY 2015-16 $19,981,232 $126,830,494 $74,379,072 $119,282 $72,551,936 $65,539,841 $435,293 $96,216 $531,509 $0 $531,509
FY 2014-15 36,208,787 33,515,160 44,362,199 282,416 25,644,164 32,886,810 286,908 0 286,908 0 286,908
Amt Change 46,907,772 32,653,030 148,385 96,216 244,601 0 244,601
% Change 182.92% 99.29% 51.72% 0.00% 85.25% 0.00% 85.25%
Note: Plant Fund Trusts include all debt service reserve and construction fund accounts in compliance with bond issue covenants.
UTAH STATE UNIVERSITY
PLANT TRUSTS PORTFOLIO Schedule E-1-A
31 March 2016
Face Number Interest Date Maturity Fair Unrealized
Value of Shares Rate Acquired Date Cost Value Gain/(Loss)
Wells Fargo
Federal National Mortgage Association 500,000 2.33% 04/12/12 01/23/23 $500,000 $500,030 $30
Federal National Mortgage Association 1,495,000 3.00% 08/29/13 04/18/33 1,327,560 1,495,000 167,440
Federal Home Loan Bank 830,000 2.90% 03/15/16 02/03/26 832,864 830,996 (1,868)
Riverton City Bonds 1,300,000 5.25% 08/14/13 12/01/39 1,355,276 1,513,720 158,444
Heritage Money Market Variable 43 43 0
Cash 3,373,495 3,373,495 0
7,389,238 7,713,284 324,046
Public Treasurers' Investment Fund
Utah Public Treasurers'
Investment Fund 0.811% 64,838,652 64,838,652 0
64,838,652 64,838,652 0
Total Plant Trusts Total Plant Trusts $72,227,890 $72,551,936 $324,046
Description
UTAH STATE UNIVERSITY
SUMMARY OF PLANT TRUST INVESTMENT TRANSACTIONS Schedule FSchedule E-2
For the Month of March 2016
Purchases Sales
Shares Cost Shares Cost Receipts Gain/(Loss) Earnings
Plant Trusts
Wells Fargo
Federal National Mortgage Association $4,708
Federal Home Loan Bank $832,864 $840,000 $840,000 $0 1,984
Riverton City Bonds 5,688
Cash 6,631,195 3,285,589 3,285,589 0
Utah Public Treasurers' Investment Fund 2,942,487 3,411,718 3,411,718 0 46,531
Total Plant Trusts $10,406,546 $7,537,307 $7,537,307 $0 $58,911
Summary of Total Investment Returns
Endowment Pool
Trailing 12-Month Return
Schedule F
6.48%5.32%
2.89%
4.19%
-1.12% -0.75%1.72%
0.55% 0.41%
-1.16%
-4.15%
0.29%
7.48%5.82%
2.66%
4.72%
-1.66% -1.41%
1.86%
0.16%-0.49%
-3.25%
-6.04%
-0.98%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
Ap
r 2
01
5
May
20
15
Jun
20
15
Jul 2
01
5
Au
g 2
01
5
Sep
20
15
Oct
20
15
No
v 2
01
5
De
c 2
01
5
Jan
20
16
Feb
20
16
Mar
20
16
An
nu
aliz
ed
Rat
e o
f R
etu
rn
Endowment Pool
USU Trailing 12-Month Returns Composite Benchmark
Summary of Total Investment Returns
Cash Management Investment Pool
Trailing 12-Month Return
Schedule F
5.07%
4.03%
3.34%3.61%
2.57%
3.27%
2.64%2.15%
1.77% 1.58%
2.10%1.73%
0.51% 0.51% 0.52% 0.53% 0.54% 0.55% 0.57% 0.58% 0.60% 0.62% 0.65% 0.67%0%
1%
2%
3%
4%
5%
6%
Ap
r 2
01
5
May
20
15
Jun
20
15
Jul 2
01
5
Au
g 2
01
5
Sep
20
15
Oct
20
15
No
v 2
01
5
De
c 2
01
5
Jan
20
16
Feb
20
16
Mar
20
16
An
nu
aliz
ed
Rat
e o
f R
etu
rn
Cash Management Investment Pool
Cash Management Investment Pool Public Treasurer's Investment Fund
Schedule G
Fair Fair Fair Fair Fair Fair Fair Fair
Value Value Value Value Value Value Value Value
Quasi Endowment $107.5 $114.3 $118.7 $143.1 $175.5 $177.4 $185.2 $187.8
True Endowment 106.4 109.4 124.3 139.4 144.1 133.2 139.1 141.6
Total $213.9 $223.7 $243.0 $282.5 $319.6 $310.6 $324.3 $329.4
*As of July 1, 2010 the balances above reflect USU and USU-CEU's Endowment balances.
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
340
360
June 11 Jun 12 Jun 13 Jun 14 Jun 15 Sep 15 Dec 15 Mar 16
Endowment FundsMillions of Dollars
24 June 2016
ITEM FOR ACTION RE: Proposed amendments to the Utah State University Policy Manual, Section 105.2.1(2) Athletics Council.
EXECUTIVE SUMMARY
Proposed changes to the Utah State University Policy Manual, Section 105.2.1(2) Athletics Council were submitted to the President by the Athletics Council and reviewed by the Faculty Senate. The changes to the policy reflect the current composition and practices of the Athletics Council to align with policy.
The above recommendations were made by the Athletics Council, reviewd by Faculty Senate and approved by the President.
RECOMMENDATION Based on the above proposal and approvals as indicated, the President recommends that the Board of Trustees approve the proposed amendments to the Utah State University Policy Manual, Section 105.2.1(2) Athletics Council.
RESOLUTION UTAH STATE UNIVERSITY
BOARD OF TRUSTEES WHEREAS, The proposal to amend the Utah State University Policy Manual, Section 105.2.1(2) Athletics Council, and
WHEREAS, There is a need to align current composition and practices of the Athletics Council to align with, and
WHEREAS, The proposal has been reviewed by the Faculty Senate, and WHEREAS, The proposal has the approval of the President of Utah State University; NOW THEREFORE BE IT RESOLVED, That the Utah State University Board of Trustees hereby approve the proposed amendment to the Utah State University Policy Manual, Section 105.2.1(2) Athletics Council. RESOLUTION APPROVED BY THE BOARD OF TRUSTEES ________________________________ DATE
USU Policy Manual General 105.2.1 (2) Athletics Council. The Athletics Council advises the President with respect to the athletics program. The duties of the council are to: (1) help maintain an athletics program compatible with the best academic interests of the University; (2) assure compliance with the rules of the appropriate conferences, the National Collegiate Athletic Association (NCAA), and the University athletics code; (3) review and recommend to the President and the Board of Trustees all intercollegiate athletics budgets; and (4) recommend policies and procedures for all aspects of the intercollegiate program. (a) Membership of the council. The Athletics Council is composed of: (1) the President, as a nonvoting member; (2) the Executive Vice President and Provost; (3) the Executive Senior Vice Provost; (4) the Vice President for Business and Finance; (5) the Executive Director for Budget and Planning; (6) the Vice President for Student Affairs; (7) the Vice President and Director of Athletics, Deputy Director of Athletics, and two Associate Athletics Directors, selected so that both the men's and women's athletics programs are represented; (8) the head of the Department of Kinesiology and Health Science; (9) a representative of the Alumni Council; (10) the USUSA President; (11) the USUSA Athletics Vice President; (12) four students, two men and two women, nominated by USU Athletics and ratified by the USUSA Executive Council; (13) six faculty members, three men and three women, to be appointed by the faculty senate for terms of three years, renewable once, the terms to be staggered so that two retire each year; (14) the NCAA Faculty Athletics Representative; and (15) when appropriate, the NCAA Faculty Athletics Representative-elect. (b) Chair of the council. The Athletics Council is chaired by one of the six elected faculty members of the council or by the NCAA Faculty Athletics Representative. The chair is elected or reelected annually by a simple majority of the entire council. The vice chair is also chosen from the six elected faculty members or the NCAA Faculty Athletics Representative and is elected or reelected annually by a simple majority of the entire council. In decisions of the council, the chair exercises a vote only in the event of a tie. (c) NCAA Faculty Athletics Representative. The NCAA Faculty Athletics Representative is a tenured or tenure-eligible faculty member and serves a four-year term, renewable; renewals are by the same process as initial appointment. He or she is nominated by a committee composed of the President, the six appointed faculty members, and the six student members of the council, and is ratified by the Faculty Senate. Unless the office is vacated prematurely, the NCAA Faculty Athletics Representative is ratified one year in advance of taking office. If the office is vacated prematurely, the nomination process begins again.
USU Policy Manual General 105.2.1 (2) Athletics Council. The Athletics Council advises the President with respect to the athletics program. The duties of the council are to: (1) help maintain an athletics program compatible with the best academic interests of the University; (2) assure compliance with the rules of the appropriate conferences, the National Collegiate Athletic Association (NCAA), and the University athletics code; (3) review and recommend to the President and the Board of Trustees all intercollegiate athletics budgets; and (4) recommend policies and procedures for all aspects of the intercollegiate program. (a) Membership of the council. The Athletics Council is composed of: (1) the President, as a nonvoting member; (2) the Executive Vice President and Provost; (3) the Executive Senior Vice Provost; (4) the Vice President for Business and Finance; (5) the Executive Director for Budget and Planning; (6) the Vice President for Student Services; (7) the Vice President and Director of Athletics, Deputy Director of Athletics, and two Associate Athletics Directors, selected so that both the men's and women's athletics programs are represented; (8) the head of the Department of Kinesiology and Health Science; (9) a representative of the Alumni Council; (10) the USUSA President; (11) the USUSA Athletics Vice President; (12) four students, two men and two women, nominated by USU Athletics and ratified by the USUSA Executive Council; (13) six faculty members, three men and three women, to be appointed by the faculty senate for terms of three years, renewable once, the terms to be staggered so that two retire each year; (14) the NCAA Faculty Athletics Representative; and (15) when appropriate, the NCAA Faculty Athletics Representative-elect. (b) Chair of the council. The Athletics Council is chaired by one of the six elected faculty members of the council or by the NCAA Faculty Athletics Representative. The chair is elected or reelected annually by a simple majority of the entire council. The vice chair is also chosen from the six elected faculty members or the NCAA Faculty Athletics Representative and is elected or reelected annually by a simple majority of the entire council. In decisions of the council, the chair exercises a vote only in the event of a tie. (c) NCAA Faculty Athletics Representative. The NCAA Faculty Athletics Representative is a tenured or tenure-eligible faculty member and serves a four-year term, renewable; renewals are by the same process as initial appointment. He or she is nominated by a committee composed of the President, the six appointed faculty members, and the six student members of the council, and is ratified by the Faculty Senate. Unless the office is vacated prematurely, the NCAA Faculty Athletics Representative is ratified one year in advance of taking office. If the office is vacated prematurely, the nomination process begins again.
24 June 2016
ITEM FOR ACTION RE: Proposed amendments to the Utah State University Policy Manual, Section 402.12.7 – Faculty Evaluation Committee (FEC).
EXECUTIVE SUMMARY
Proposed changes to the Utah State University Policy Manual, Section 402.12.7 – Faculty Evaluation Committee (FEC), were forwarded by the Professional Responsibilities and Procedures Committee (PRPC) and approved by the Faculty Senate on April 25, 2016. The recommended change will clarify process and procedures of the Faculty Evaluation Committee.
RECOMMENDATION Based on the above proposal and approvals as indicated, the President and Provost recommend that the Board of Trustees approve the proposed amendments to the Utah State University Policy Manual, Section 402.12.7 – Faculty Evaluation Committee (FEC).
RESOLUTION
UTAH STATE UNIVERSITY BOARD OF TRUSTEES
WHEREAS, The proposal to amend the Utah State University Policy Manual, Section 402.12.7 – Faculty Evaluation Committee (FEC), and
WHEREAS, This change will clarify process and procedures of the Faculty Evaluation Committee.
WHEREAS, The proposal has the support of the Professional Responsibilities and Procedures Committee (PRPC), and WHEREAS, The proposal has been approved by the Faculty Senate, and WHEREAS, The proposal has the approval of the President and Provost of Utah State University; NOW THEREFORE BE IT RESOLVED, That the Utah State University Board of Trustees hereby approve the proposed amendments to the Utah State University Policy Manual, Section 402.12.7 – Faculty Evaluation Committee (FEC). RESOLUTION APPROVED BY THE BOARD OF TRUSTEES ________________________________ DATE
PROPOSED CHANGE 402.12.7(1)
The Faculty Evaluation Committee shall (a) assess methods for evaluating faculty performance; (b) recommend improvements in methods of evaluation; and (c) decide university awards for Eldon J. Gardner Teacher of the Year, Undergraduate Faculty Advisor Mentor of the Year, and Faculty University Service Award.
FINAL WORDING 402.12.7(1)
The Faculty Evaluation Committee shall (a) assess methods for evaluating faculty
performance; (b) recommend improvements in methods of evaluation; and (c) decide
university awards for Eldon J. Gardner Teacher of the Year, Undergraduate Faculty Mentor of
the Year, and Faculty University Service Award.
24 June 2016
ITEM FOR ACTION RE: Proposed amendments to the Utah State University Policy Manual, Section 405.12.3 – College Faculty Appeals Committee (CFA).
EXECUTIVE SUMMARY
Proposed changes to the Utah State University Policy Manual, Section 405.12.3 – College Faculty Appeals Committee (CFAC), were forwarded by the Professional Responsibilities and Procedures Committee (PRPC) and approved by the Faculty Senate on April 25, 2016. The recommended change will clarify process and procedures regarding Faculty Post-Tenure Review.
RECOMMENDATION Based on the above proposal and approvals as indicated, the President and Provost recommend that the Board of Trustees approve the proposed amendments to the Utah State University Policy Manual, Section 405.12.3 – College Faculty Appeals Committee (CFA).
RESOLUTION
UTAH STATE UNIVERSITY BOARD OF TRUSTEES
WHEREAS, The proposal to amend the Utah State University Policy Manual, Section 405.12.3 – College Faculty Appeals Committee (CFAC), and
WHEREAS, This change will clarify process and procedures regarding Faculty Post-Tenure Review.
WHEREAS, The proposal has the support of the Professional Responsibilities and Procedures Committee (PRPC), and WHEREAS, The proposal has been approved by the Faculty Senate, and WHEREAS, The proposal has the approval of the President and Provost of Utah State University; NOW THEREFORE BE IT RESOLVED, That the Utah State University Board of Trustees hereby approve the proposed amendments to the Utah State University Policy Manual, Section 405.12.3 – College Faculty Appeals Committee (CFAC). RESOLUTION APPROVED BY THE BOARD OF TRUSTEES ________________________________ DATE
PROPOSED CHANGE 405.12.3 College Faculty Appeals Committee (CFAC)
The College Faculty Appeals Committee (CFAC) committee shall consist of five tenured
faculty members, each representing different departments within the college or unit, where
possible. Three members of the CFAC will constitute each appeals panel. Members of the
CFAC serve three year staggered terms. Members may run for subsequent terms. The five
members of the CFAC select a chair (and a co-chair, if desired). To fill vacancies in the CFAC,
the chair solicits nominations from across the college or unit and runs the election while
striving to keep broad representation across departments.
When mutual agreement on the initial committee membership of the Peer Review Committee
cannot be reached (405.12.2), a College Faculty Appeals Committee (CFAC) shall decide
membership. Either the faculty member and/or the department head (or equivalent)
can initiate an appeal by written request to the CFAC chair. Each side submits a one page
document outlining their concerns and suggestions regarding committee membership. Within
three weeks of receiving the request for an appeal, a meeting shall be held, a decision made and
delivered to both the faculty member and department head. At the meeting each side may
present their rationale for their request. Neither the department head nor the faculty member is
required to attend, but both shall have the opportunity to voice their request. A simple majority
of the three CFAC appeals panel members decides the membership of the committee in
question and the decision is binding.
Note: Current 12.3 becomes12.4
12.4 becomes 12.5
FINAL WORDING 405.12.3 College Faculty Appeals Committee (CFAC)
The College Faculty Appeals Committee (CFAC) committee shall consist of five tenured
faculty members, each representing different departments within the college or unit, where
possible. Three members of the CFAC will constitute each appeals panel. Members of the
CFAC serve three year staggered terms. Members may run for subsequent terms. The five
members of the CFAC select a chair (and a co-chair, if desired). To fill vacancies in the CFAC,
the chair solicits nominations from across the college or unit and runs the election while
striving to keep broad representation across departments.
When mutual agreement on the initial committee membership of the Peer Review Committee
cannot be reached (405.12.2), a College Faculty Appeals Committee (CFAC) shall decide
membership. Either the faculty member and/or the department head (or equivalent)
can initiate an appeal by written request to the CFAC chair. Each side submits a one page
document outlining their concerns and suggestions regarding committee membership. Within
three weeks of receiving the request for an appeal, a meeting shall be held, a decision made and
delivered to both the faculty member and department head. At the meeting each side may
present their rationale for their request. Neither the department head nor the faculty member is
required to attend, but both shall have the opportunity to voice their request. A simple majority
of the three CFAC appeals panel members decides the membership of the committee in
question and the decision is binding.
Note: Current 12.3 becomes 12.4
12.4 becomes 12.5
May 26, 2016
ITEM FOR ACTION
Re: Utah State University Research Foundation
- Recommendation for appointment to Research Foundation Board
EXECUTIVE SUMMARY
Utah State University Research Foundation Board submits to the President of Utah State
University and the Utah State University Board of Trustees recommendations to appoint
individuals to the Research Foundation Board. These recommendations are consistent with
Article VI of the Amended and Restated Articles of Incorporation and Article II, Sections 4 and
5, and Article III, Sections 1 and 2, of the Amended Bylaws of the USU Research Foundation.
These recommendations were made by a resolution of the majority of the USU Research
Foundation Board after appropriate review and discussion.
RECOMMENDATIONS
1) The USU Research Foundation Board recommends the appointment of Dr. Jagath
Kaluarachchi as a trustee to the Utah State University Research Foundation Board for a
one (1) year term beginning with the August, 2016 Board meeting. The appointment of
Dr. Kaluarachchi will strengthen the Board as they move the Foundation forward in new
ways.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, the Utah State University Research Foundation has vacancies on the Foundation
Board
AND WHEREAS, Dr. Kaluarachchi has experience and knowledge that will lend strength to the
Board,
NOW, THEREFORE, BE IT RESOLVED, that the President of Utah State University and the
Utah State University Board of Trustees hereby approve Dr. Jagath Kaluarachchi’s appointment
to the Utah State University Research Foundation Board for a one (1) year term beginning
August 2016.
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
__________________________Date
May 26, 2016
ITEM FOR ACTION
Re: Utah State University Research Foundation
- Recommendation for appointment to Research Foundation Board
EXECUTIVE SUMMARY
Utah State University Research Foundation Board submits to the President of Utah State
University and the Utah State University Board of Trustees recommendations to appoint
individuals to the Research Foundation Board. These recommendations are consistent with
Article VI of the Amended and Restated Articles of Incorporation and Article II, Sections 4 and
5, and Article III, Sections 1 and 2, of the Amended Bylaws of the USU Research Foundation.
These recommendations were made by a resolution of the majority of the USU Research
Foundation Board after appropriate review and discussion.
RECOMMENDATIONS
1) The USU Research Foundation Board recommends the appointment of Dr. Maura Hagan
as a trustee to the Utah State University Research Foundation Board for a three (3) year
term beginning with the August, 2016 Board meeting. The appointment of Dr. Hagan
will strengthen the Board as they move the Foundation forward in new ways.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, the Utah State University Research Foundation has vacancies on the Foundation
Board
AND WHEREAS, Dr. Hagan has experience and knowledge that will lend strength to the Board,
NOW, THEREFORE, BE IT RESOLVED, that the President of Utah State University and the
Utah State University Board of Trustees hereby approve Dr. Maura Hagan’s appointment to the
Utah State University Research Foundation Board for a three (3) year term beginning August
2016.
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
__________________________Date
ACTION AGENDA
1. Design for the Interlocking Cross-Laminated Timbers – ICLT Building, a non-state
funded project
2. Capital Development Priority List for Fiscal Year 2017-2018
3. Utah State University 2016-2017 Budgets
24 June 2016
ITEM FOR ACTION RE: Request to Approve Design for the Interlocking Cross-Laminated Timbers (ICLT) Building, a
Non-state Funded Project
Details of the request to begin the design phase of the Interlocking Cross-Laminated Timbers
(ICLT) Building, a non-state funded project described below are submitted for the Utah State
University Board of Trustees review and approval. The President and Vice President for Business
and Finance have reviewed the request and recommend approval.
EXECUTIVE SUMMARY
Utah State University desires to begin the design phase of the Interlocking Cross-Laminated Timbers
(ICLT) Building, a non-state funded project. Although this project has not yet received Building Board
approval, it is anticipated that approval for the design phase will be granted during the September
meeting.
The United States Forest Service provided funding through a grant for design of the ICLT Building, a
4,000 square foot facility located on the USU Botanical Center in Kaysville. The building will contain a
pavilion to support the Edible Demonstration Garden events, demonstration kitchen, large classroom, and
rentable event space.
It is anticipated that construction and related soft costs of approximately $1.5 million will be funded
primarily through private donations. Funding for ongoing operation and maintenance costs will be paid
from USU Botanical Center funds.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Board of Trustees
approve the request to begin the design phase of the Interlocking Cross-Laminated Timbers Building, a
non-state funded project.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, Utah State University desires to begin the design phase of the Interlocking Cross-Laminated
Timbers (ICLT) Building, a non-state funded project, and
WHEREAS, The design phase of this project has not yet received Building Board approval, it is
anticipated that approval will be granted during the September meeting, and
WHEREAS, It is understood that approval is not guaranteed, and
WHEREAS, The United States Forest Service provided funding through a grant for design of the ICLT
Building, a 4,000 square foot facility located on the USU Botanical Center in Kaysville, and
WHEREAS, The building will contain a pavilion to support the Edible Demonstration Garden events,
demonstration kitchen, large classroom, and rentable event space, and
WHEREAS, It is anticipated that construction and related soft costs of approximately $1.5 million will be
funded primarily through private donations, and
WHEREAS, Funding for ongoing operation and maintenance costs will be paid from USU Botanical
Center funds:
NOW, THEREFORE, BE IT RESOLVED, The President and Vice President for Business and Finance
recommend that the Board of Trustees approve the request to begin the design phase of the Interlocking
Cross-Laminated Timbers Building, a non-state funded project.
RESOLUTION APPROVED BY THE USU BOARD OF TRUSTEES:
__________________
Date
24 June 2016
ITEM FOR ACTION
RE: Capital Development Priority List for Fiscal Year 2017-18
The Utah State University Capital Development Priority List for Fiscal Year 2017-18 is
being presented for the Board of Trustees’ consideration. The Capital Development
Priority List has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY
STATE FUNDED REQUESTS
Utah State University will submit the Biology and Natural Resource building renovation project
for ranking by the Board of Regents Capital Development Prioritization (CDP) process as its
single state-funded request for the upcoming Legislative Session.
NON-STATE FUNDED REQUESTS
Utah State University does not plan to submit to the Board of Regents any proposed non-state
funded projects at this time.
FIVE YEAR PLAN
The Five Year Plan is included for information only.
Operation and Maintenance (O&M) costs will be requested at the appropriate time on the
projects that are qualified to receive state funding.
RECOMMENDATION
The President and Vice President for Business and Finance recommend that the Utah State
University Capital Development Priority List for Fiscal Year 2017-18 be approved as presented.
RESOLUTION
UTAH STATE UNIVERSITY
BOARD OF TRUSTEES
WHEREAS, The Utah Legislature appropriates state funds for the purpose of capital facilities
development; and
WHEREAS, Utah State University is required to submit its prioritized recommendation for such
projects to the Board of Regents after presentation to the USU Board of Trustees; and
WHEREAS, Utah State University considers all capital facility development requests received
from colleges and departments in developing the Capital Development Priority List; and
WHEREAS, The President and Vice President for Business and Finance have reviewed the
Capital Development Priority List for Fiscal Year 2017-18 and recommend its approval to the
USU Board of Trustees; and
WHEREAS, The USU Board of Trustees has reviewed and given due consideration to the
Capital Development Priority List for Fiscal Year 2017-18:
NOW, THEREFORE, BE IT RESOLVED, That the USU Board of Trustees hereby approves the
Capital Development Priority List for Fiscal Year 2017-18 as presented.
RESOLUTION APPROVED BY THE BOARD OF TRUSTEES:
_____________________
Date
PROPOSED
Capital Development List
FY 2018
Project Name Approximate Budget
STATE FUNDED REQUESTS
Logan
Biology and Natural Resources Renovation $25,000,000
NON-STATE FUNDED PROJECTS
None
Utah State University 5-Year Plan
FY 2018
STATE FUNDED PROJECTS
Biology and Natural Resources Renovation
The Biology and Natural Resources Building (BNR) renovation consists of 50,000 GSF of
renovated space and 10,000 GSF of new space in BNR.
Programming for this project has been completed and has provided a cost effective approach for
utilizing new and renovated space for teaching and research labs, classrooms, study space, and
offices. The renovation of these spaces along with the construction of the recently funded new
science building are required to meet the needs of nearly 600 undergraduate biology majors, as
well as hundreds of non-majors who are preparing for careers in the health professions,
agriculture, and natural resources.
The renovation of BNR will include the addition of a new circulation tower on the NW corner to
serve all four levels. This addition provides needed ADA, restroom, exit stair, and elevator
upgrades for the building. A 2,000 NSF addition to the west entrance will provide a lobby and
student study space outside the 300 seat auditorium. The BNR does not currently have any study
or collaboration space available for students.
Space projections and allocations are based on the program completed for the project in the
spring of 2016. Compatibility of space function and type within the BNR were considered and
prioritized to minimize cost and maximize efficiency and functionality for the renovation.
Approximate Budget $25,000,000
Student Center
The New Student Center project will provide approximately 250,000 – 300,000 GSF to replace
the existing aging Taggart Student Center. It will consolidate several other student programs
housed in other buildings on campus. The new Student Center is proposed to replace several
buildings to the north of the existing building, including the Military Science and Big Blue
Parking Terrace. This site sits in the heart of the Student Services District, with prominent street
frontage at the east entrance to campus and along 700 North, the main campus circulation
corridor. The building will sit opposite the new Aggie Recreation Center and Aggie Legacy
Fields, reinforcing and complimenting the student activities taking place in those facilities.
Underground parking will be included under the new structure.
Approximate Budget $75,000,000
Teaching and Learning Center (CHaSS)
The College of Humanities and Social Sciences (CHaSS) is planning to consolidate all CHaSS
facilities into a complex of four buildings in the vicinity of the Family Life and Ray B. West
Buildings on the SW corner of the main Logan campus. The 200,000 square foot complex will
serve as a destination learning center for language acquisition and cultural studies that foster
understanding and informed leadership, designed to teach students to become effective global
citizens.
The new Global Communication and Culture Complex will be completed in three phases. The
first phase will be the design and construction of a new Teaching and Learning Center, the
second phase will be a renovation of Ray B. West and Family Life, and the third phase will be a
new building for Utah Public Radio.
Approximate Budget $50,000,000
Animal Science Renovation
The existing Animal Science building located on the north side of the Quad is listed on the
national register of historic buildings. It occupies a major presence on the Quad and has served a
variety of functions throughout its life. The building is constructed of un-reinforced masonry
and has concrete floors and a timber roof. The roof is structurally deficient and is not connected
to the walls other than by gravity. The building has no air conditioning and occupants struggle
during the summer months to keep computers operating. The open stairway is a life safety
concern and needs to be addressed because in the event of a fire it would act as a chimney.
Approximate Budget $15,000,000
Health, Physical Education, and Recreation (HPER) Renovation/Addition
The HPER building was constructed in 1972 and was projected to support a student population
of 12,000. The main purpose for the facility is to serve the instructional needs of the Emma
Eccles Jones College of Education and Human Services as it prepares students to serve in the
areas of physical education, parks and recreation, and other exercise careers. In addition, it is
intended to serve as a recreational facility for students at large. The present on-campus student
population is approximately 17,000 and the existing facility is inadequate for the instructional
needs of the University, much less the recreational needs of its students. Class scheduling is
limited by the space available and recreational use is crowded out by class time. This project
adds approximately 80,000 square feet of new space for additional classrooms and labs for
exercise physiology and cardiovascular research as well as gymnasia, ball courts, weight training
and instructional space for rock climbing. In addition, a number of much-needed repairs and
upgrades to the existing mechanical systems will be implemented. The swimming pools have
rust stains around the edges of the pools indicating that the steel reinforcing the concrete is
corroding and there is public concern about the ability to maintain a sanitary environment for
students and visitors.
Approximate Budget: $45,000,000
NON-STATE FUNDED PROJECTS
Phase II Housing – Mountain View Residence Hall Replacement
The Mountain View Residence Hall replacement will include the demolition of an aging high
rise residence hall on central campus. A new residence hall will replace the beds plus provide
approximately a five percent increase to accommodate future growth. The existing facility has
many structural and code deficiencies, and is in need of major upgrades to systems including an
elevator replacement. It is also traditional dormitory style housing, which is not desirable to the
contemporary student body.
The new building will implement the second phase proposed by the Master Plan for housing
replacement in the North Core District of central campus. The site is adjacent to the existing
building to be demolished, and will have convenient access to parking, recreation and dining
services.
Approximate Budget: $30,000,000
Interlocking Cross Laminated Timber Building – Kaysville
The Interlocking Cross-Laminated Timber (ICLT) Building will be a new building on the USU
Utah Botanical Center Campus in Kaysville. The building will be approximately 4,000 and will
function as a large classroom for USU Extension and community programs and as event space
serving up to 175 people. It will include a pavilion to support edible demonstration garden
events, a demonstration kitchen/teaching kitchen, and an interpretive display of the building
design and technology. Funding for design and engineering is paid for via a grant from the
USFS. The actual building costs (materials, construction and soft costs) will be funded primarily
through private donations.
The building design was funded with a grant from the United States Forest Service to explore
innovative building technologies using large timbers salvaged from beetle killed or fire killed
trees. This technology is an efficient and sustainable alternative building technique making use
of wood that otherwise is considered waste.
Approximate Budget: $1,500,000
24 June 2016
ITEM FOR ACTION
RE: Utah State University 2016-17 Budgets
Information related to the Utah State University 2016-17 budgets is submitted to the Board of Trustees for consideration. The budget information has received the appropriate administrative review and approval.
EXECUTIVE SUMMARY State Appropriated Line Items The total of the 2016-17 state appropriated budget for all line items is $341,941,300. This budget is based on the following sources of revenue:
Revenue Source State Tax Funds $195,484,200 Dedicated Credits (Tuition) 140,342,000 All Other Funds 6,115,100
Total $341,941,300
Auxiliary Enterprises The total of the 2016-17 Auxiliary Enterprises budgets are:
USU $ 40,922,754 USU-Eastern $3,280,000 Service Enterprises The total of the 2016-17 Service Enterprises budgets are: USU $11,072,347 USU-Eastern $372,500 Athletics The total of the 2016-17 Athletics budgets are: USU “Aggies” $33,855,962 USU-Eastern “Eagles” $1,052,500
RECOMMENDATION The President and Vice President for Business and Finance recommend that the Board of Trustees approve the Utah State University 2016-17 budgets as presented.
RESOLUTION UTAH STATE UNIVERSITY
BOARD OF TRUSTEES WHEREAS, Utah State University, a major Research I University, receives substantial state appropriations and student tuition for its operation; WHEREAS, the total of the 2016-17 state appropriated budget for all line items is $341,941,300; WHEREAS, the $341,941,300 budget is based on different revenue sources, including $195,484,200 State Tax Funds, $140,342,000 Dedicated Credits (Tuition), and $6,115,100 All Other Funds; WHEREAS, the total of the 2016-17 Auxiliary Enterprises budgets are:
USU $40,922,754 USU-Eastern $3,280,000 WHEREAS, the total of the 2016-17 Service Enterprises budgets are: USU $11,072,347 USU-Eastern $372,500 WHEREAS, the total of the 2016-17 Athletics budgets are: USU “Aggies” $33,855,962 USU-Eastern “Eagles” $1,052,500 WHEREAS, the Utah State University 2016-17 budgets have been duly considered and approved by the central administration; and WHEREAS, the President and Vice President for Business and Finance recommend approval of the Utah State University 2016-17 budgets by the Board of Trustees: NOW, THEREFORE, BE IT RESOLVED that the Board of Trustees hereby approves the Utah State University 2016-17 budgets as presented. RESOLUTION APPROVED BY THE BOARD OF TRUSTEES: _____________________ Date
2016‐17 STATE APPROPRIATED BUDGET
Education & General $240,046,600
Veterinary Medicine 5,147,200
O&M 2,642,300
Uintah Basin Campus 6,505,500
Southeastern Utah Campus 2,244,900
Brigham City Campus 16,754,600
Tooele/Wasatch Campus 12,488,500
Agricultural Experiment Station 14,620,300
Utah Water Research Laboratory 3,815,800
Cooperative Extension 16,752,500
Educationally Disadvantaged 100,000
USU‐Eastern ‐ Price 14,778,700
USU‐Eastern ‐ San Juan 4,113,000
USU‐Eastern ‐ Prehistoric Museum 445,600
USU‐Eastern ‐ Educationally Disadvantaged 105,000
USU‐Eastern ‐ Workforce Education 1,380,800
TOTAL ‐ ALL LINES $341,941,300
NOTES
Adjusted authorized budget
‐ Appropriated budget plus:
• Tuition adjustments (e.g., tuition increases)
• Adjustments between line items
Budgeted Operating Revenue $8,997,284 $10,241,833 $1,912,235 $2,575,347 $12,587,040 $2,239,733 $1,091,282 $39,644,754
Other Revenue1$50,000 $1,228,000 $1,278,000
Budgeted Expenses (including COGS) $8,638,728 $9,772,655 $995,084 $2,277,622 $8,146,021 $2,038,495 $977,572 $32,846,177
Budgeted Net Revenue $358,556 $469,178 $917,151 $297,725 $4,491,019 $1,429,238 $113,710 $8,076,577Budgeted Transfers Mandatory (Debt Service on Pledged Units) ($312,236) ($449,497) ($2,835,765) $0 ($3,597,498) Non-Mandatory ($57,812) ($54,908) ($135,132) ($62,443) ($594,091) ($58,961) ($963,347) Subtotal - Budgeted Transfers ($57,812) ($367,144) ($584,629) $0 ($2,898,208) ($594,091) ($58,961) ($4,560,845)
Available for Repairs/Replacement and Contingency2 $300,744 $102,034 $332,522 $297,725 $1,592,811 $835,147 $54,749 $3,515,732
1Other Revenue Source: Student Housing - land grant interest; Taggart Student Center - student building fees2Mandatory transfer for pledged units; non-mandatory transfer for non-pledged units
Budgeted Operating Revenue $656,290 $7,693,876 $1,337,713 $1,224,468 $160,000 $11,072,347Budgeted Expenses (including COGS) $643,485 $7,604,462 $1,301,541 $1,217,042 $158,000 $10,924,530
Budgeted Net Revenue $12,805 $89,414 $36,172 $7,426 $2,000 $147,817
Auxiliary Enterprises2016-17 Operating Budgets
Bookstores (Multi-campus)
TOTALTaggart
Student CenterStudent Housing
Student Health Center
Parking Operations
Dining Services
University Inn
Surplus Property
TOTAL
Budget Category
Publication Design &
Production
Service Enterprises2016-17 Operating Budgets
Motor Pool
Information Technology
Distribution Center/Mailing
BureauBudget Category
Budgeted Operating Revenue $700,000 $1,300,000 $1,200,000 $80,000 $3,280,000
Budgeted Expenses (including COGS) $700,000 $1,200,000 $900,000 $60,000 $2,860,000
Budgeted Loan Payment $193,000 $193,000
Budgeted Net Revenue $0 $100,000 $107,000 $20,000 $227,000
Budget Category
Budgeted Operating Revenue $33,000 $70,000 $240,000 $25,000 $4,500 $372,500
Budgeted Expenses (including COGS) $32,000 $65,000 $230,000 $24,000 $4,000 $355,000
Budgeted Net Revenue $1,000 $5,000 $10,000 $1,000 $500 $17,500
TOTAL
Dining Services
Student Housing
USU-EasternService Enterprises
2016-17 Operating Budgets
Budget Category Bookstore
Printing Services
Mailing Bureau
Telephone Services
Motor Pool
Fuel Tank
Student Center
TOTAL
USU-EasternAuxiliary Enterprises
2016-17 Operating Budgets
Institutional Support $10,828,445
Student Fees 5,100,209
Football 5,120,118
Men's Basketball 865,986
Big Blue Scholarship Fund 1,336,500
Sponsorships 1,075,000
NCAA / MWC 4,973,633
Endowment Earnings 155,680
Other Athletics Revenues 2,500,391
Indirect Facilities & Admin 1,900,000
Total Revenues $33,855,962
Compensation $10,343,762
Operating
Men's Varsity Sports Programs 8,060,911
Women's Varsity Sports Programs 5,000,351
Administrative Units 10,444,100
Total Expenses $33,849,124
Balance $6,838
Utah State UniversityAthletics DepartmentOperating Budget
2016‐2017
Expenses
Revenues
RevenuesInstitutional Support 905,000$
Student Fees 35,000
Advertising 35,000
Camps/Other 30,000
Ticket Sales 15,000
Concessions 7,500
Boosters 25,000
Total Revenues 1,052,500$
ExpensesCompensation 472,500$
Operating
Men's Sports 245,000
Women's Sports 245,000
Co‐Ed Sports 15,000
Administrative 75,000
Total Expenses 1,052,500$
Balance ‐$
Utah State University EasternAthletics DepartmentOperating Budget
2016‐2017