Resolution Authorizing and Approving Net Position Usage in the Aggregate Amount of $2,200,000
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Resolution Authorizing and Approving Net Position Usage in the Aggregate Amount of $2,200,000

 

WHEREAS, the Board of Trustees at Winthrop University have examined the fee structure at Winthrop
University and adopted, on June 28, 2019, the recommendations provided by the Finance Committee;
and


WHEREAS, the members the Board of Trustees have examined the projected resources and projected
commitments based on the adopted fee schedule for 2019-20; and


WHEREAS, the members of the Board recognize their fiduciary responsibility to ensure that the
University’s operating budget strikes a balance between actual resources and commitments; and


WHEREAS, through cost-cutting measures and reduced spending as well as the changes in timing of
certain capital projects during FY2019, the University’s Net Position Reserves are currently at a record
high level;


THEREFORE, BE IT RESOLVED that the use of funds not to exceed $2.2 million from the Net Position
Reserves be made available for specific uses as approved by the Committee on Finance be adopted by
the Board of Trustees.


APPROVED, this the 25th day of October, 2019.

Last Updated: 10/28/19