Nichols said the University's 20 percent rate of return was significantly greater than the 7 to 8 percent for the average college or university. Strategic investment fund approved Trustees approved a proposal for the establishment of a Strategic Investment Fund allowing for flexible allocations of cash to implement the Academic Plan. The Research Challenge funds used will support only investments related to research in consultation with the vice president for research and consistent with all applicable state laws and policies. The amount of money available in the account will be included in the annual budget process. Trustees authorize construction work Trustees authorized the University to hire architects and engineering firms and to seek construction bids for three projects, and approved contracts awarded for five others.
Funding is provided by donations to the Lima campus.
A new vibration monitoring system for the backpressure turbine generator in the McCracken Power Plant will be installed. Replacement of the 1957 and '59 sections of Sisson Hall for the College of Veterinary Medicine, expected to be completed by April 2003. Construction of a 52-stall barn and associated space for the Agricultural Technical Institute in Wooster, to be completed this fall. Upgrades to restrooms, elevators, hallways and corridors are under way at Campbell Hall. The land will continue to be used by the University and will be maintained by the Department of Physical Facilities.