WASHBURN UNIVERSITY OF TOPEKA

BOARD OF REGENTS

MINUTES

October 27, 2006

____________________________________________________________________________________

 

 

I.     Call to Order

 

Chairperson Warren called the meeting to order at 6:16 p.m. at the Topeka Country Club.

 

II.    Roll Call

 

Present were:  Mr. Blair, Mr. Bunten, * Mr. Gaines, * Mr. Lagerberg, Mr. Roth, Mr. Storey and,  Mrs. Warren.

 

        * Participated via teleconference call.

 

III.  New Business

 

The President of the Washburn Endowment Association, Dr. JuliAnn Mazachek, gave an overview of the development of the new Memorandum of Understanding between Washburn University and the Washburn Endowment Association using as a framework a PowerPoint slide presentation document.  She noted the goals of the new MOU were to clarify and define the relationship between the parties; to outline the respective responsibilities and expectations of each; to provide a description of the financing of and planning for the Washburn Endowment Association; outlined the guidelines for both accepting restricted gifts on behalf of the University and managing gift funds; and outlining procedures for the termination of the relationship.

 

Dr. Mazachek reported the liaison committee of the Washburn Endowment Association and Washburn University, comprised of the chairs and vice chairs of the respective governing boards, met on Thursday, October 19, and recommended approval of the Memorandum of Understanding.

 

It was moved and seconded to approve the draft of the new Memorandum of Understanding between Washburn University and the Washburn Endowment Association.  Motion passed with Mr. Roth abstaining.

 

The President of the Washburn Endowment Association then gave an overview of the financial statement and auditors report of the Washburn Endowment Association completed by Mize Hauser and Company for informational purposes only.

 

The meeting adjourned at 6:35 p.m.




______________________________

Kenneth P. Hackler

Secretary, Board of Regents

 


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