E
A S T E R N M
I C H I G A N U N I V E R SI T Y
SECTION: 22
DATE:
June 16, 2015
FINANCE AND INVESTMENT COMMITTEE
ACTION REQUESTED
It is recommended that the Board of Regents receive and place on file the minutes from the March
17, 2015 Finance and Investment Committee meeting and the Working Agenda for the June 16,
2015 meeting.
STAFF SUMMARY
March 17, 2015 Meeting Agenda
Agenda items include the following recommendations:
WEMU-FM Financial Statements as of June 30, 2014 And Auditor’s Report
2015-16 Room, Board and Apartment Rates
Fiscal Year 2015-16 Capital Budget and Three Year Capital Projection
Emeritus Staff Awards
June 16, 2015 Meeting Agenda
2015-16 Tuition and Fees Recommendation
2015-16 General Fund Operating Budget Recommendation
2015-16 Auxiliaries Fund Operating Budget Recommendation
Approval of Purchase Agreement – 511 Forest Avenue
Approval of Debt Financing
Approval
Approval
–
–
Extension of University Beverage Rights
Extension of University Apparel Rights
Emeritus Staff Awards
Approval – Policy 12.1.1 – In-State Classification of Tuition
FISCAL IMPLICATIONS
None
ADMINISTRATIVE RECOMMENDATION
The proposed Board action has been reviewed and is recommended for Board approval.
University Executive Officer Date

The meeting was called to order by Regent Beth Fitzsimmons at 11:45 a.m.
A motion was made, seconded and approved to accept the minutes from the December 5, 2014 Finance and Investment Committee meeting.
The agenda includes 4 items.
Section 20: Recommendation: 2015-16 Room, Board and Apartment Rates
This proposal requests a 4% increase for all residence hall rates, and a 5% increase for meal plans and apartment rates. With the increased food cost and supplies as well as a significant amount of deferred maintenance expense, this recommended rate increase is required to meet all financial obligations and to set aside funds for future capital investment in the housing and dining facilities.
Section 21: Recommendation: Fiscal Year 2015-16 Capital Budget
The five years from fiscal year 2008-2009 through fiscal year 2013-2014 represented a period of unprecedented capital investment at Eastern. Over the period, capital spending exceeded $220 million.
Approximately two-thirds of the spending was invested in academic facility enhancements including the
Science Complex addition/renovation and the Pray-Harold renovation.
The projects in the recommended $8.9 million fiscal year 2015-2016 capital budget are listed on
Attachment A and include significant investments supporting the growth in the School of Health and
Human Services. This budget also reflects continuing investment in housing, safety and security and the
Honors College.
The 2015-2016 Capital Budget represents a decrease from recent years, as operating results have been below budget target, resulting in a decrease in Net Reserves. It is anticipate that improvement in these results will enable the University to return to recent normalized levels in future years.
Section 22: Recommendation: WEMU-FM Financial Statements as of June 30, 2014
WE M U F M , Eas t ern M i c hi gan U nivers it y's pu b lic ra d i o s t a ti o n , i s r eq uir e d as a cond iti o n o f p a rti c ip a ti o n in th e pu b l i c b roa d cas tin g p rogram to fi l e a n a nnu a l aud i te d s t a te me n t of fi na n c i a l o perat i ons . Pl ante & Mora n , P L L C p re p ares t his aud i t a nn u a ll y as part of i t s fi na n c i a l a u d it e n gagemen t w ith th e U ni vers it y .
T h e fi nanc i a l re p ort, s t a t eme nt s a nd o p in i on are at t ac h ed. P l ante & Moran i nd i cates t ha t , in th e ir o pini o n , t h e fin ancia l s t ate m e n ts p rese nt fa irl y, and in accor d a n ce w ith ge n era lly acce pt e d accou ntin g pri nc i p l es, th e fi nanc i a l p os it io n of th e s t a t ion as we ll as th e c h anges i n fin anc i al pos iti on a n d c ash fl ows fo r th e fi sca l yea r s 2 012-13 a n d 2 013-14 .
Durin g t h e ir r ev i ew, Plant e M ora n did n ot i de nti fy any int e rn a l con t ro l m ater i a l w e a kn esses or sign i fica nt d e fi c i e n c i es.

Section 3: Recommendation: Emeritus Staff Status
It is recommended that the Board of Regents grant Emeritus Staff Status to One (1) staff member: Melody Reifel Werner, Associate Athletics Director, Office of Athletics, who retired on June 16, 2014.
The meeting was adjourned at 12:05 p.m.
Respectfully submitted,
Jada Wester
Executive Assistant to the
Chief Financial Officer