MINUTES Kentucky Community and Technical College System Board of Regents Meeting December 7, 2012

Transcription

1 MINUTES Kentucky Community and Technical College System Board of Regents Meeting December 7, 2012 Board Members Present: Mr. Porter G. Peeples, Chair Ms. Marcia L. Roth, Vice Chair Mr. Richard A. Bean Mr. Elijah Buell, Jr. Ms. Ginger M. Carroll Mr. Robert G. Cooper Ms. Amber Lee Douglas Mr. John P. Dove Ms. Betsy E. Flynn Dr. Michael Ginsberg Dr. Gail R. Henson Mr. M. Patrick Holland Mr. Barry K. Martin Ms. Doris C. Thomas CALL TO ORDER KCTCS Board of Regents Chair P.G. Peeples called to order the meeting of the Kentucky Community and Technical College System Board of Regents at 8:35 a.m. (ET) on December 7, The meeting was held in the Board Room at the KCTCS System Office in Versailles, Kentucky. The press was notified of the meeting on November 28, Hon. J. Campbell Cantrill, KCTCS General Counsel, served as parliamentarian. There being a quorum present, Board business began with the approval of minutes. APPROVAL OF MINUTES MOTION: Ms. Thomas moved and Dr. Henson seconded that the September 21, 2012, KCTCS Board of Regents meeting minutes be approved. VOTE: The minutes were approved by unanimous consent. ADDITIONS OR CHANGES TO THE AGENDA WELCOME CHAIR S REPORT Chair Peeples asked that agenda item K. Executive Session be moved to the end of the Executive Committee s report to accommodate some of the Regents schedules. There were no objections to changing the order of the agenda. Chair Peeples welcomed guests to the meeting. He thanked KCTCS President Michael B. McCall and his wife Carolyn for hosting the Board for dinner Thursday evening. He also thanked the staff for their hospitality. Chair Peeples reported that Faculty and Staff Elections were held in August In addition to the re-election of the two faculty representatives, Ms. Ginger M. Carroll and Mr. John P. Dove were elected to serve as the staff representatives to the Board for three-year terms that expire October Ms. Carroll is currently employed at Hazard Community and Technical College as an Administrative Assistant for Student Support Services. She has been assigned to the Academic Affairs and Curriculum Committee. Mr. Dove is currently employed at Big Sandy Community and Technical College as Director of Information Technology. He has been assigned to the Finance, 1

2 Technology, and Human Resources Committee. Chair Peeples announced the appointment of Dr. Michael Ginsberg to serve as the Vice Chair for the Academic Affairs and Curriculum Committee. The previous term of Vice Chair Ms. Barbara Hoskins ended in October 2012 and created a vacancy. Chair Peeples announced that the KCTCS Foundation, Inc. Board of Directors held its annual meeting on December 3, Highlights of this meeting include the board s acceptance of the fiscal year 2012 Audit Report, approval of the transfer of funds to KCTCS for the Automotive Manufacturing Technical Education Collaborative (AMTEC), and approval of the fiscal year 2013 budget. The board also authorized the President s Gala expenses over $10,000 and received the 2012 Foundation Gift Report. The date for the next President s Gala was announced as November 9, 2013, at the Lexington Convention Center. The Foundation Board s next meeting is scheduled for April 2, Chair Peeples reported that President McCall made him aware of a request from the Southeast Kentucky Community and Technical College Faculty Senate to inform the Board of Regents of their action to establish a Presidential Search Committee for Dr. Bruce Ayers replacement. Dr. Ayers is retiring effective June 30, Chair Peeples noted that according to Board policy, President McCall administers the search process for the college leadership and updates the Board on the search process as part of his President s Report. A special meeting of the Executive Committee was held at the KCTCS System Office on November 27, An individual personnel matter regarding President McCall s evaluation was the topic of the meeting. PRESIDENT S REPORT KCTCS President Michael B. McCall updated the Board on the two presidential searches being conducted at Bowling Green Technical College and Southeast Kentucky Community and Technical College. He also provided updates on the President s Leadership Seminar (PLS) scheduled for January 2013, the KCTCS Strategic Plan Performance Measures, and shared the second Transformation TV video with the Board. The written report and the video presented at the meeting are posted at CONSENT AGENDA RECOMMENDATION: That the following items listed under the KCTCS Board of Regents Consent Agenda be approved: Finance, Technology, and Human Resources Committee H-1. **Action: Ratification of Personnel Actions. Academic Affairs and Curriculum Committee I-1. **Action: Ratification of New Credit Certificate and Diploma Programs. 2

3 I-2. **Action: KCTCS Colleges Candidates for Credentials. Chair Peeples noted that the items on the Consent Agenda were discussed separately during committee meetings of the KCTCS Board of Regents. He asked whether any regent would like to discuss or remove an item from the Consent Agenda. By unanimous consent, the Consent Agenda was approved. EXECUTIVE COMMITTEE Chair Peeples called upon Executive Committee and Board of Regents Vice Chair Roth to make the committee s report. ACTION: NAME CHANGE FOR BOWLING GREEN TECHNICAL COLLEGE RECOMMENDATION: That the KCTCS Board of Regents approve the request of Dr. Nathan Hodges, Bowling Green Technical College President/CEO, to rename the college Southcentral Kentucky Community and Technical College, effective January 1, Ms. Roth presented a summary of the presentation given to the committee at their meeting. She noted the proposed name is consistent with the Board of Regents Policy for Naming Colleges and with the Board s intent that colleges include the words community and technical in their proposed names when presenting renaming requests. MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents approve the request of Nathan Hodges, Bowling Green Technical College President/CEO, to rename the college Southcentral Kentucky Community and Technical College, effective January 1, Chair Peeples called for discussion. In response to a question regarding the return to the students that the name change would provide and whether more gifts and pledges would be given to the college Foundation as a result, the Board discussed the expectation that enrollment would increase as a result of the name change and that there would be an increase of gifts that would more than offset the costs incurred with changing the name. It was further noted that the name change makes it apparent that the college is not just a technical college but a comprehensive college. Additionally, the name change more accurately reflects the area that the college serves. Chair Peeples called for the vote. 3

4 ACTION: REVISION OF MISSION STATEMENT FOR BOWING GREEN TECHNICAL COLLEGE RECOMMENDATION: That the KCTCS Board of Regents approve a revised mission statement for Bowling Green Technical College, pending approval of the college name change as presented in the agenda materials. Ms. Roth presented the mission statement revision and noted that it is the policy of the KCTCS Board of Regent that a college mission statement be reviewed annually and that the mission statement be submitted to the KCTCS Board of Regents for approval at least once every three years. KCTCS Board of Regents policy indicates that each of the SACS-accredited colleges under the jurisdiction of the KCTCS Board of Regents have a statement of purpose approved by the Board. The Principles of Accreditation: Foundations for Quality Enhancement of the Commission on Colleges of the Southern Association of Colleges and Schools (SACS) states that an institution must have a clearly defined and published mission statement specific to the institution and appropriate to an institution of higher education. and that it must be approved by the governing board (and) is periodically reviewed by the board. The name of the college is stated in the mission statement in two places. At the time the Board of Regents approves a new name for the institution, it is appropriate that the new name be included in the mission statement. The only proposed change to the mission statement is the new name. All faculty and staff had an opportunity to participate in the new name selection process during an August 2010 assembly. The Bowling Green Technical College Board of Directors endorsed the revised mission statement on September 29, The revised mission statement was endorsed by the Chairs of the Faculty and Staff Senates as well as the Student Government Association President on October 30, MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents approve a revised mission statement for Bowling Green Technical College. Chair Peeples called for discussion. There being none, he called for the vote. ACTION: REVISION OF MISSION STATEMENT FOR HENDERSON COMMUNITY COLLEGE RECOMMENDATION: That the KCTCS Board of Regents approve a revised mission statement for Henderson Community College as presented in the agenda materials. Ms. Roth noted that it is the policy of the KCTCS Board of Regents that each of the SACS-accredited colleges under the jurisdiction of the KCTCS Board of Regents have a statement of purpose approved by the governing board and that the KCTCS Board of Regents periodically review and approve mission statements for each of the SACS-accredited colleges. 4

5 It is the policy of KCTCS that the college mission statement be reviewed annually and that the mission statement be submitted to the KCTCS Board of Regents for approval at least once every three years. All of the Henderson Community College faculty and staff were invited by to vote for their top three versions of the mission statement from the eight versions developed through small group participation on October 3, Eighty-nine faculty and staff, including college leadership, participated. The Henderson Community College faculty and staff were invited by to vote for the final mission statement on October 17, Fifty-nine participants voted. The revised mission statement was sent to the entire college for final review and comment on October 25, The Henderson Community College Board of Directors endorsed the revised mission statement on October 26, MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents approve the revised mission statement for Henderson Community College as presented in the agenda materials. Chair Peeples called for discussion. There being none, he called for the vote. ACTION: REVISION OF MISSION STATEMENT FOR HOPKINSVILLE COMMUNITY COLLEGE RECOMMENDATION: That the KCTCS Board of Regents approve a revised mission statement for Hopkinsville Community College (HCC) as presented in the agenda materials. Ms. Roth noted that it is the policy of the KCTCS Board of Regents that each of the SACS-accredited colleges under the jurisdiction of the KCTCS Board of Regents have a statement of purpose approved by the governing board and that the KCTCS Board of Regents periodically review and approve mission statements for each of the SACS-accredited colleges. It is the policy of KCTCS that the college mission statement be reviewed annually and that the mission statement be submitted to the KCTCS Board of Regents for approval at least once every three years. The proposed mission statement was introduced to external stakeholders, including P-16 Council, Rotary Clubs (Christian, Trigg, and Todd), Chamber of Commerce, Chamber Military Affairs Committee, Christian County Leadership Council, Pennyrile Area Development District, Christian County Agri-Business Association, and Chamber Agri-Business Committee. The proposed mission statement was endorsed by the faculty and the staff on September 21, 2012; and the revised mission statement was endorsed by the Hopkinsville Community College Board of Directors on September 13,

6 MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents approve the revised mission statement for Hopkinsville Community College (HCC) as presented in the agenda materials. Chair Peeples called for discussion. There being none, he called for the vote. ACTION: NAMING OF THE CLASSROOM AND TRAINING CENTER AT THE BOONE CAMPUS OF GATEWAY COMMUNITY AND TECHNICAL COLLEGE RECOMMENDATION: That the KCTCS Board of Regents approve the naming of The Bank of Kentucky Classroom and Training Center at Gateway Community and Technical College (GCTC) as requested by President G. Edward Hughes and endorsed by the GCTC Board of Directors and Foundation Board. The request complies with KCTCS Board of Regents Policy 7.10 Naming of Buildings and Facilities for Private Donors. The Bank of Kentucky has actively supported the college since 2003, significantly giving financial and time resources. Mr. Robert Zapp, the President of The Bank of Kentucky, serves as a co-chair of the college s capital campaign. Mr. Zapp has opened doors to area donors, personally pledged $100,000 to the college, and arranged for the bank to contribute the college s first $1 million gift. The college has discussed this naming proposal with the GCTC Board of Directors and the GCTC Foundation Board. All parties are agreeable to the proposed naming recommendation. MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents approve the naming of The Bank of Kentucky Classroom and Training Center at Gateway Community and Technical College (GCTC) as requested by President G. Edward Hughes and endorsed by the GCTC Board of Directors and Foundation Board. Chair Peeples called for discussion. There being none, he called for the vote. UPDATE: 2012 KCTCS LEGISLATIVE AGENDA EXECUTIVE SESSION Ms. Roth provided a brief summary of the committee s discussion. She noted there were no bills that have been pre-filed at this point for the 2013 Regular Session of the Kentucky General Assembly that would affect KCTCS and/or higher education institutions. The 2013 session will officially begin January 8, MOTION: Mr. Holland moved and Ms. Flynn seconded that the KCTCS Board of Regents go into Executive Session pursuant to KRS (1) (f) Individual Personnel Matters to discuss the president s annual evaluation. 6

7 The Board went into Executive Session at 9:31 a.m. (ET). Chair Peeples asked the audience to leave the room. OPEN SESSION The meeting reconvened in open session at 10:52 a.m. (ET). Chair Peeples announced that the Board discussed individual personnel matters regarding the president s annual evaluation and that one action was to be brought before the committee as a result of the closed session. Chair Peeples called on Ms. Roth, Vice Chair of the Executive Committee, for a motion. MOTION: On behalf of the Executive Committee, Ms. Roth moved that the KCTCS Board of Regents, as a result of its annual assessment of President Michael B. McCall based on his performance and in accordance with the provisions of his contract, approve the following: Extending President McCall s employment contract an additional year, through December 31, Adding an additional year to President McCall s Deferred Compensation Plan through December 31, Awarding President McCall 100 percent of his annual performance bonus for which he is eligible. Increasing President McCall s base salary by 2.5 percent effective January 1, Providing an additional insurance benefit to include a Health Flexible Spending Account (FSA). Providing the option of having an automobile allowance. VOTE: The motion was approved unanimously by those voting: Mr. Peeples, Ms. Roth, Mr. Bean, Mr. Cooper, Ms. Douglas, Ms. Flynn, Dr. Henson, Mr. Holland, Mr. Martin, and Ms. Thomas. Mr. Buell, Ms. Carroll, Mr. Dove, and Dr. Ginsberg did not vote. President McCall thanked the Board for their continuing support and expressed his appreciation for the action taken. He noted that it is a privilege and honor to serve the KCTCS Board of Regents. FINANCE, TECHNOLOGY, AND HUMAN RESOURCES COMMITTEE Finance, Technology, and Human Resources Committee Chair Doris Thomas presented the committee s report to the KCTCS Board of Regents. 7

8 ACTION: ANNUAL AUDIT REPORT RECOMMENDATION: That the KCTCS Board of Regents receive the financial audit results for the fiscal year. Ms. Thomas introduced the following Dean Dorton Allen Ford, PLLC representatives to the Board: Richard Dorton, CEO; Crissy Fiscus, Director of Assurance Services; Lance Mann, Associate Director on Assurance Services; and Hunter Stout, Manager of Assurance Services. The independent opinion issued by Dean Dorton Allen Ford, PLLC is an unqualified opinion. This opinion means that the KCTCS financial statements present fairly, in all material respects, the KCTCS financial position on June 30, The KCTCS financial statements and the audit firm s opinion letter are included in the document titled Annual Financial Report. The audit firm has reported that there are no weaknesses in the KCTCS internal controls considered to be material weaknesses. The audit firm s management comment letter, KCTCS responses, and other related correspondence from the audit firm are included in the document titled Audit Correspondence. The audit firm has audited the KCTCS major federal programs in compliance with the requirements of the U.S. Office of Management and Budget Circular A-133. The report is in the document titled Report on Audit of Institution of Higher Education in Accordance with OMB Circular A-133, June 30, The auditors reported that they met with the KCTCS Board Chair and the Finance, Technology, and Human Resources Committee Chair at the beginning and end of the audit. MOTION: On behalf of the Finance, Technology, and Human Resources Committee, Ms. Thomas moved that the KCTCS Board of Regents receive the financial audit results for the year. Chair Peeples called for discussion. There being none, he called for the vote. The Board of Regents thanked Vice President Walker and the Finance staff for all their hard work and attention to detail. ACTION: OTHER POSTEMPLOYMENT BENEFIT (OPEB) TRUST RECOMMENDATION: That the KCTCS Board of Regents approve the resolution presented to establish an Other Postemployment Benefit Trust for eligible employees in KCTCS 403(b) retirement plans. 8

9 Regent Bean excused himself from the presentation and vote of this agenda item because of a possible conflict of interest. Ms. Thomas provided a brief summary of the committee s discussion. She noted that KCTCS received two responses to the Request for Proposal (RFP) issued. Both respondents were invited to make presentations on their proposals. The members of the Board of Regents Finance, Technology, and Human Resources Committee were invited to hear these presentations and ask questions of the presenters. Based on the written proposals and presentations, KCTCS staff recommended the establishment of the OPEB Trust with the financial institution selected in accordance with Kentucky law to serve as the trustee of the trust resulting from a request for proposals issued for this service. MOTION: On behalf of the Finance, Technology, and Human Resources Committee, Ms. Thomas moved that the KCTCS Board of Regents approve the resolution presented to establish an Other Postemployment Benefit Trust for eligible employees in KCTCS 403(b) retirement plans. Chair Peeples called for discussion. There being none, he called for the vote. Chair Peeples noted the importance of establishing a protected funding source for retirement benefits and its value to the KCTCS employees. Regent Bean returned to the meeting after the discussion was over. UPDATE: KCTCS QUARTERLY FINANCIAL REPORT Ms. Thomas reported that information for the first quarter of fiscal year , which ended September 30, 2012, was derived from the KCTCS Administrative Financial System. The Statement of Revenues and Expenditures reflects the actual program and operational expenditures compared to the fiscal year budget approved by the KCTCS Board of Regents on June 15, Total revenues of $334 million reflect 36 percent of the budgeted revenue and appropriated funds. Current fund expenditures and budget reserve through the fiscal year total $266 million, 29 percent of the expenditures budgeted for the year. As of the end of the first quarter, KCTCS has received 46 percent of budgeted tuition revenue; and 43 percent of the total budgeted financial aid has been received and expended. A total of 100 percent of the nonrecurring budget reserve from prior year funds is in place. The Statement of Net Assets presented reflects the overall financial position of the System and includes assets, liabilities, and net assets as of September 30,

10 UPDATE: FACILITIES MANAGEMENT AND SUSTAINABILITY STATUS REPORT Ms. Thomas noted that the current report includes updates on KCTCS capital construction projects, property management, sustainability initiatives, energy management, and facilities utilization. Information on property management activities includes property acquisitions and leases, insurance settlements, asset audits, and surplus property disposition. The report also contains information on the KCTCS sustainability initiative, including academic programs and other activities being conducted by the colleges and the System Office. Information on facilities utilization in fall 2012 is also included. UPDATE: RESOURCE DEVELOPMENT Ms. Thomas provided a summary of the Resource Development Report and noted that the report covers private giving and sponsored projects, grants, and contracts. Private gift income by donor purpose and source for the system and the donor source by college for each KCTCS college is presented in this report. The largest private gifts received during the reporting period are also featured. Sponsored Projects, Grants, and Contract funds are stated by source and purpose for the System Office in total; and total awards to each KCTCS college are included in the report. The top five grants and contracts received during the reporting period are highlighted. This report covers the time period July 1, 2012, through October 31, ACADEMIC AFFAIRS AND CURRICULUM COMMITTEE ACTION: NEW PROGRAM PROPOSALS Chair Peeples called on Academic Affairs and Curriculum Committee Chair Gail Henson to make the committee s report. Dr. Henson presented the nine program proposals to the Board in one motion. MOTION: On behalf of the Academic Affairs and Curriculum Committee, Dr. Henson moved that the KCTCS Board of Regents approve the following new program proposals presented in the Board agenda materials on pages : Associate in Applied Science (AAS) in Instructional Design and Learning Technology with tracks in Instructional Design, elearning Developer, Graphic Design for Instruction, as well as a Custom track; and certificates in Foundations of Instructional Design, Advanced Instructional Design, Instructional Facilitation, elearning Developer, and Graphic Design of Instruction for Gateway Community and Technical College (GCTC) to be implemented in fall Associate in Applied Science (AAS) in Paramedic Technology for Gateway Community and Technical College (GCTC) to be 10

11 implemented in fall Associate in Applied Science (AAS) in Diesel Technology with a track in Agriculture Diesel Technician; diploma in Agriculture Equipment Technician; and certificates in Agriculture Equipment Mechanic Helper, Diesel Engine Mechanic, Electrical/Electronics Systems Mechanic, Fluid Power Mechanic, Heavy Duty Drive Train Mechanic, Mobile Air Conditioning Mechanic, and Preventative Maintenance Mechanic for Hopkinsville Community College (HCC) to be implemented in spring Associate in Applied Science (AAS) in Energy Management (EM) with a diploma in Energy Management and certificates in Fundamentals of Energy Production, Commercial Energy Analysis, and Sustainable Energy for Madisonville Community College (MCC) to be implemented in fall Associate in Applied Science (AAS) in Funeral Service for Madisonville Community College (MCC) to be implemented in fall Associate in Applied Science (AAS) in Healthcare Technology Management and a certificate in Foundations in Healthcare Technology Networking Systems for Madisonville Community College (MCC) to be implemented in fall Associate in Applied Science (AAS) in Human Services and a certificate in Direct Support Work for Madisonville Community College (MCC) to be implemented in fall Associate in Applied Science (AAS) in Paralegal Technology for Madisonville Community College (MCC) to be implemented in spring Associate in Applied Science (AAS) in Integrated Engineering Technology with a diploma in Integrated Engineering Technology (IET) for Bluegrass Community and Technical College (BCTC) to be implemented in summer Chair Peeples called for discussion. There being none, he called for the vote. Dr. Henson commended the presentations delivered by the college leadership and faculty at the committee meeting. UPDATE: ACCREDITATION VISIT Dr. Henson reported the following: Gateway Community and Technical College hosted a Commission on Colleges of the Southern Association of Colleges and Schools (SACS) reaffirmation visit on October 23-25, The visit was highly successful. 11

12 UPDATE: STUDENT SERVICES UPDATE: KENTUCKY WINS Dr. Henson provided the following updates: October 25, 2012, marked the go-live of the Go KCTCS! Student Service Center Phase I for seven additional colleges, for a total of 10 colleges that have launched these Service Centers. The remaining six colleges will go live in March As of November 9, 2012, the Go KCTCS! Student Service Center has responded to 36,129 calls and 3,153 chats and s. Of these communications, 14 percent (4,586) were escalated to the various colleges to respond. These metrics are within the service level agreement goals. Students who engage with the Go KCTCS! Student Service Center have an option to take a survey about their experience. Of the 653 survey responses received, 86 percent of the students expressed satisfaction. The overall results show that KCTCS has a satisfied student base with a positive impression of the colleges. Dr. Henson provided a summary of the committee s discussion. It was noted that KY WINS has funded 25 career pathway projects and 1,308 business and industry training projects as of October 31, Of the 1,308 business and industry training projects, 1,177 have been completed; 131 are active. These projects have provided training and assessment services for 208,939 participants. To date, the average wage for trainees is $ From July 1, 2012, through October 31, 2012, KCTCS colleges awarded 5,772 hours of academic credit to 6,780 individuals; non-credit training was provided for 141 individuals for 1,222 clock hours. SPECIAL ELECTION TO FILL BOARD OFFICER VACANCY RECOMMENDATION: That the KCTCS Board of Regents approve the slate presented by the Nominating Committee to fill the Board Officer vacancy for the Secretary to the Board of Regents. They newly elected Secretary will serve from December 7, 2012, to June 30, Chair Peeples announced that the Nominating Committee was comprised of the members of the Executive Committee and that they met on November 27, 2012, to consider and discuss the slate for the Board Officer vacancy of the Secretary to the Board of Regents. MOTION: On behalf of the Nominating Committee, Ms. Roth moved that the KCTCS Board of Regents approve the slate of Ms. Betsy Flynn to serve as Secretary to the Board of Regents. Ms. Flynn will serve as Secretary to the Board of Regents from December 7, 2012, to June 30, Chair Peeples asked for any other nominations. There being none, he called for discussion. There being none, he called for the vote. 12

13 NEXT MEETING ADJOURNMENT Chair Peeples announced that the next regular meeting of the KCTCS Board of Regents was scheduled for March 15, 2013, at the KCTCS System Office, Versailles, Kentucky. Mr. Buell moved that the meeting adjourn. Ms. Flynn seconded the motion. VOTE: The motion was approved unanimously, and the meeting adjourned at 11:29 a.m. (ET). 03/15/13 SIGNED COPY ON FILE Date Approved by the KCTCS Board of Regents Porter G. Peeples, Chair KCTCS Board of Regents SIGNED COPY ON FILE Beth R. Hilliard, Assistant Secretary KCTCS Board of Regents SIGNED COPY ON FILE Michael B. McCall, Ed.D. KCTCS President 13

14 Attachment Kentucky Community and Technical College System Board of Regents Resolution Approving and Adopting the Trust for the KCTCS Postemployment Health Insurance Benefit Plan WHEREAS, the Kentucky Community and Technical College System ( KCTCS ) has established and maintains for the benefit of eligible 403(b) employees the KCTCS Postemployment Health Insurance Benefit Plan ; and WHEREAS, KCTCS has determined, in accordance with the governing provisions of the Government Accounting Standards Board Statement Number 45 Annual Valuation, that it is beneficial for KCTCS that the assets of the KCTCS Postemployment Health Insurance Benefit Plan be placed into a Trust under the name of the KCTCS Postemployment Health Insurance Benefit Plan; and WHEREAS, KCTCS desires to approve and adopt the statement of the Trust in the form of the new Trust Agreement by, and between, KCTCS and the financial institution selected in accordance with Kentucky law to serve as the Trustee of the Trust resulting from a request for proposals issued for these services, effective as soon as contract negotiation can be accomplished and a contract can be signed between parties. NOW, THEREFORE, BE IT RESOLVED that the KCTCS Board of Regents, on behalf thereof, hereby approves and adopts the statement of the Trust in the form of the new Trust Agreement in an acceptable form and hereby authorizes, empowers, and directs the KCTCS President to approve the final form of and execute the Trust Agreement to the KCTCS Postemployment Health Insurance Benefit Plan on behalf of KCTCS; and FURTHER BE RESOLVED that the KCTCS Board of Regents, on behalf thereof, hereby authorizes, empowers, and directs each of the appropriate officers of KCTCS to do all acts and to execute all further documents in writing, which each such officer determines to be necessary or desirable in order to effectuate the adoption of Trust Agreement to the KCTCS Postemployment Health Insurance Benefit Plan. SO RESOLVED this seventh day of December Porter G. Peeples, Sr., Chair KCTCS Board of Regents Beth R. Hilliard, Assistant Secretary KCTCS Board of Regents Michael B. McCall, Ed.D. KCTCS President 14