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«Ms. Shelia Vaught – Chair Ms. Elizabeth Farris – Vice Chair Mr. Joe Whisenhunt – Secretary Mr. Bunny Adcock Mr. Victor Green Ms. Kay Hinkle Mr. ...»

-- [ Page 1 ] --

AGENDA FOR MEETING OF BOARD OF TRUSTEES

OF

UNIVERSITY OF CENTRAL ARKANSAS

AT

10:00 A.M.

ON

OCTOBER 7, 2016

BOARD OF TRUSTEES CONFERENCE ROOM – WINGO HALL

Ms. Shelia Vaught – Chair

Ms. Elizabeth Farris – Vice Chair

Mr. Joe Whisenhunt – Secretary

Mr. Bunny Adcock

Mr. Victor Green

Ms. Kay Hinkle

Mr. Brad Lacy

I. CALL TO ORDER

II. ROLL CALL

III. INTRODUCTIONS

• President’s Leadership Fellows IV. REPORTS A. President Transition Committee B. Financial Update C. Financial Report Card D. Audit and Finance Committee E. Residence Hall Renovation F. Greek Village Phase II V. MINUTES

VI. ACTION AGENDA

A. Contract Review Procedures – Board Policy No. 416 B. Rights-of-way and Easements to City of Conway i C. Central Pool Position D. Alternate Retirement Plan (TIAA) E. Insurance Services F. Acceptance of the Audited Financial Report for FY2016

VII. EXECUTIVE SESSION

VIII. OPEN SESSION

IX. ADJOURNMENT

ii

TABLE OF CONTENTS

ITEM PAGE

MINUTES

ACTION AGENDA

A. Contract Review Procedures – Board Policy No. 416

B. Rights-of-way and Easements to City of Conway

C. Central Pool Position

D. Alternate Retirement Plan (TIAA)

E. Insurance Services

F. Acceptance of the Audited Financial Report for FY2016

iii V. MINUTES Minutes of the August 19, 2016 board meeting, which can be found on UCA’s web site, were distributed to board members for review prior to the October 7, 2016 board

meeting:

–  –  –

Pursuant to Board Policy No. 416, Contract Review Procedures, the administration must seek board approval for any contract that requires the university to expend funds, at any time, in excess of $250,000 or any contract with a term exceeding one year, unless the Office of General Counsel certifies, in writing, that the contract (a) may be terminated by the university on the giving of written notice of 90 days or less or (b) will not require the university to expend funds in excess of $99,999.

The administration is seeking board approval for the university to enter into contracts with

the following companies/organizations:

–  –  –

Therefore, the president recommends to the Board of Trustees the following resolution:

“BE IT RESOLVED: That the Board of Trustees authorizes the administration to enter into contracts with the companies/organizations listed above.”

–  –  –

6. Public Bid/Purchasing Approval: Maintenance agreement for an existing contract.

7. Special Provisions/Terms/Conditions: N/A.

8. Approval/Notification to UCA Foundation: N/A.

Form prepared by: Warren Readnour, General Counsel Date: September 21, 2016

–  –  –

1. Parties: Lease between the University of Central Arkansas (Lessor) and Chainwheel, Inc. (Tenant).

2. Purpose: Chainwheel is leasing approximately 2,000 square feet in Donaghey Hall on the Bruce Street side to operate a bicycle shop.

3. Term: The term of the lease is 5 years, beginning on the date Chainwheel has a certificate of occupancy for the space in Donaghey Hall. Chainwheel has an option to renew for an additional five years.

4. University Funds to be Paid: N/A.

5. Funds Received: The base rent is an annual amount of $15.00 per square foot. (The renewal rate is $17.00 per square foot.) In addition, the tenant will pay $1.25 per square foot as its share of the costs of the common area maintenance. Common area maintenance includes taxes assessed against the building and utilities allocated to the common areas of the building. The tenant shall pay for its own utilities and taxes.

6. Public Bid/Purchasing Approval: N/A.

7. Special Provisions/Terms/Conditions: The university will initially provide tenant with up to $33 per square foot as a tenant finish allowance.

8. Approval/Notification to UCA Foundation: N/A.

Form prepared by: Warren Readnour, General Counsel Date: September 21, 2015

–  –  –

1. Parties: University of Central Arkansas and Caradine Companies Architecture.

2. Purpose: Professional architectural design and engineering services for the construction of Greek Village Phase II.

3. Term: October 24, 2016 to June 30, 2020.

4. University Funds to be Paid: $719,338.75. (We are seeking legislative approval for the amount necessary if project completed, but initial expenditures will be for preliminary designs and cost estimates.)

–  –  –

6. Public Bid/Purchasing Approval: Firm was selected at the time of design and construction of Greek Village Phase I.





7. Special Provisions/Terms/Conditions: N/A.

8. Approval/Notification to UCA Foundation: N/A.

Form prepared by: Warren Readnour, General Counsel Date: September 26, 2016

–  –  –

1. Parties: Agreement between the University of Central Arkansas and Nabholz Construction Corporation.

2. Purpose: General Contractor and Construction Manager for Greek Village Phase II.

–  –  –

4. University Funds to be Paid: Project estimate is $10,603,675.00. (We are seeking legislative approval for the amount necessary for project completion, but initial expenditures will be for preliminary designs and cost estimates.)

–  –  –

6. Public Bid/Purchasing Approval: Company was selected at the time of design and construction of Greek Village Phase I.

7. Special Provisions/Terms/Conditions: This is an alternative deliver method (ADM) project. The general contractor will work with the architectural firm on the project design and development of construction documents for the construction of Greek Village Phase II. The project will be bid and/or negotiated by the general contractor, who will provide the university with a guaranteed maximum price (GMP).

8. Approval/Notification to UCA Foundation: N/A.

Form prepared by: Warren Readnour, General Counsel Date: September 28, 2016

–  –  –

Conway Corporation installed utilities for Donaghey Hall. The City of Conway is now requesting that the university grant three 15-foot-wide rights-of-way and easements for purposes of utilities provided by Conway Corporation. The easements are near the intersection of Bruce Street and Donaghey Avenue. A survey has been obtained, and the UCA Physical Plant has reviewed the easements and verified that the utilities are located in the designated areas.

Therefore, the president recommends to the Board of Trustees the following resolution:

“BE IT RESOLVED: That the Board of Trustees authorizes the administration to grant to the City of Conway the rights-of-way and easements for utilities provided by Conway Corporation, and the president and other officials of the University of Central Arkansas, as the president may from time-to-time designate, are hereby authorized and directed to enter into and execute such documents, agreements and instruments as are necessary and required to grant the rights-of-way and easements.” 7 VI. ACTION AGENDA C. Central Pool Position The State of Arkansas (Section 38 of Act 236 of 2016) provides that the Department of Higher Education shall maintain a central pool of positions to be used for additional positions when a university does not have sufficient positions available. The university must provide justification to the Department of Higher Education for the need to allocate a position from the central pool. We are seeking the addition of one non-classified position to serve as an admissions counselor for the greater Dallas/Ft. Worth area. As part of the university’s strategic plan, UCA has increased its presence and participation in various college fairs, high school visits, and other events within the Dallas/Ft. Worth area. However, currently there is not adequate staff support to reach the strategic goals.

Therefore, the president recommends to the Board of Trustees the following resolution:

"BE IT RESOLVED: That the Board of Trustees authorizes the administration to proceed with a request for an additional non-classified position from the central pool maintained by the Department of Higher Education."

–  –  –

The Alternate Retirement Plan (TIAA) established pursuant to Board Policy No. 526 is a 403(b) plan, also known as a defined contribution plan, in which the employee must contribute six percent of his or her annual salary and UCA contributes 10% as an employer contribution.

The TIAA plan is currently governed by adoption agreements with TIAA-CREF entered into in 2008, 2011, and 2013. These documents are identified as an amendment or restatement of an existing plan that was initially established in 1967. The current plan agreement generally allows a participant to receive distributions from the plan upon severance from employment or on account of hardship. The current plan agreement does not allow a participant who enters the university’s phased retirement program to receive distributions and continue to work in a part-time capacity. It has come to the attention of the administration that amendments to the prior plan that were approved by the Board of Trustees in April 1996 and October 2006 indicate that such withdrawals were to be permitted. At least one other state institution allows an employee over age 59 ½ and participating in an early retirement program to receive distributions from a 403(b) plan.

Therefore, the president recommends to the Board of Trustees the following resolution:

“BE IT RESOLVED: That the Board of Trustees authorizes the administration to pursue a change to the TIAA plan in accordance with federal law to allow a plan participant who enters the university’s phased retirement program to receive distributions and continue to work in a part-time capacity.”

–  –  –

Health Insurance The UCA health plan is in its first year of self-insurance. Through 8 months, the health plan has a surplus of approximately $660,000. However, UCA’s health plan consultants (Stephens, Inc.) have estimated a need to provide for an anticipated increase of up to $1 million more in claims for the next year. This estimate takes into account what they believe is a surge in prescription drug costs (35% increase for UCA), increased reinsurance costs, the removal of plan coverage maximums required under federal law, aging population, and an increase in the sophistication and usage of medical diagnostic testing. This would mean a potential premium increase of 11%. If UCA were still fully-insured, the anticipated rate increase would be in the 20% - 22% range or approximately $1.8 million. UCA employees have not had a rate increase since 2010.

The university administration, Stephens, Inc., and the Employee Benefits Advisory

Committee have met and recommend the following action plan:

1. Maintain the current $660,000 as part of the overall reserve fund for claims.

2. Implement plan design changes that will account for $350,000 in plan savings.

The university has made very few plan design changes over the last several years. The

following plan design changes are recommended:

1. Increase Point of Service Plan (POS) deductible from $1,000 to $1,500 with the last $500 covered by the UCA Gap Plan.

2. Increase the preferred brand prescription copay from $35 to $40.

3. Increase the non-preferred brand prescription copay from $50 to $60.

When comparing the new plan design changes to other universities in Arkansas, UCA employees will continue to generally pay less for health care utilization than employees at other institutions. The university is not making any changes to the high deductible plan.

The university administration will continue to monitor the utilization of the health plan.

Should the health plan require an increase in funding at any time during the remainder of the fiscal year, the university will provide that funding from contingency funds.

–  –  –

UCA’s dental plan is self-insured. After review of the plan’s utilization by Stephens, Inc., there are no recommended rate increases or plan design changes for 2017.

–  –  –

Currently, the Life Insurance and Long-term Disability (LTD) is through USAble. After working with Stephens Inc., the university requested that USAble review current pricing based on a review of UCA’s claims experience. The current rates of $0.134 for group life and $0.209 for LTD are guaranteed through December 31, 2016.

As a result of this review, USAble has offered a two-year extension of current rates, ending December 31, 2018.

Therefore, the president recommends to the Board of Trustees the following resolutions:

“BE IT RESOLVED: That the changes and revisions to the health insurance plan as set forth above be implemented by the administration on January 1, 2017.” “BE IT FURTHER RESOLVED: That the administration is authorized to extend the contract with USAble for Life Insurance and Long-term Disability coverage for the period from January 1, 2017 through December 31, 2018.”

–  –  –

F. Acceptance of Legislative Audit Report for Fiscal Year 2015 In accordance with Act 4 of 1991, the Board of Trustees is required to review audit reports and the accompanying comments related to publicly-funded institutions. The act requires that the board take appropriate action related to each finding and recommendation contained in the report.



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