University of Colorado at Boulder
COMMITTEE ON CAPITAL DEVELOPMENT
|Votes: View--> ||Action Taken: |
|Approve the University of Colorado at Boulder's Tw||PASS|
01:41 PM -- University of Colorado System Overview
The committee returned from recess. Mr. Bruce Benson, President, and Ms. Kelly Fox, Vice President for Budget and Finance and Chief Financial Officer, both representing the University of Colorado system, presented an overview of the university system and its capital construction needs. Mr. Benson discussed efforts to fund capital construction in light of the current economic climate, and provided an update on certain capital projects. Discussion ensued regarding the need to address certain details of the higher education capital construction approval process. Mr. Benson returned to discussing how the system is endeavoring to fund capital construction.
01:50 PM -- University of Colorado at Boulder
Mr. Phil DiStefano, Chancellor, and Mr. Frank Bruno, Vice Chancellor for Administration, both of the University of Colorado at Boulder, presented six FY 2010-11 capital construction requests, a two-year projection of cash need, and a five-year projection of state need for the Boulder campus. Committee members received a collection of slides prepared by the university highlighting certain general information regarding the Boulder campus, and providing details on the university's FY 2010-11 capital requests (Attachment P). Committee members also received a fact sheet on the Boulder campus and its importance as an educational institution, prepared by the university (Attachment Q), and the university's Two-Year Projection of Cash Need, prepared by Legislative Council Staff (Attachment R). Mr. DiStefano detailed the university's capital requests based on the information provided in Attachment P, including the projects found on the university's two-year list. Mr. DiStefano also noted a forthcoming supplemental request for a cash-funded athletics practice facility.
Mr. Bruno responded to questions regarding unforeseen delays in moving forward with the athletics practice facility. Mr. DiStefano and Mr. Bruno responded to questions regarding the cash reserves the university has on hand to fund certain cash-funded projects. Ms. Fox provided further information in response to these questions. A general discussion ensued regarding the university's cash revenue sources, and the need to plan for controlled maintenance expenditures. Ms. Fox responded to questions regarding controlled maintenance funding for Senate Bill 92-202 facilities. Discussion ensued regarding the use of the Higher Education Bond Revenue Intercept Program to assist with financing for cash projects. Discussion returned to changes made to the higher education cash-funded project approval process put in place by Senate Bill 09-290. Discussion followed regarding the difference between the university's cash-funded project list and its state-funded request list.
|BILL:||University of Colorado at Boulder |
|TIME: || 02:11:26 PM|
|MOTION:||Approve the University of Colorado at Boulder's Two-Year Projection of Cash Need (see Attachment R). The motion passed on a vote of 5-0-1.|
Final YES: 5 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS