The Board of Trustees has authorized the University to purchase property insurance for fiscal year 2023 for an annual premium not to exceed $1.2 million. The State of Illinois owns and maintains approximately $2 billion in business interruption and property insurance. Through its membership in the Midwestern Higher Education Compact and the Illinois Public Higher Education Cooperative (IPHEC), the University is able to purchase coverage from a pool of respected and financially sound insurance companies through the intermediary of insurance broker Alliant Insurance Services, Inc. Funding comes from general revenue and operating revenue from the ancillary facilities network.
Fire Services Agreement
Trustees authorized the annual intergovernmental agreement between the City of Normal and the State of Illinois for University fire protection services. The agreement for fiscal year 2023 includes a cost not exceeding $628,348. The agreement is amended each year to require a new reimbursement rate that reflects the higher municipal costs associated with providing fire protection services. The City of Normal uses a price index to calculate the new reimbursement rate determined by the Illinois Municipal League and used in other college communities in the state. Funding comes from general revenues and operating revenues from the network of ancillary facilities.
National Vocational Education Standards Board
Trustees authorized a contract with the National Professional Teaching Standards Board to support teacher candidates. The agreement includes a cost of $707,525 to provide the tools necessary to confirm the certifications of teachers across the state of Illinois who choose to participate in this initiative.
Ancillary Facilities System Revenue Obligations
Trustees authorized the State of Illinois to repay revenue bonds to pay for renovations to Hancock Stadium. The new bonds will be issued for an amount not exceeding $14,000,000 with an effective interest cost of borrowing not exceeding 4%. Debt service savings are estimated at over $200,000 over the life of the new debt. The renovations were the first seen at Hancock Stadium since it was built in 1961.
learning management software
Administrators have authorized a five-year contract with Instructure for a new learning management system (LMS) at a cost of no more than $2,350,000. The new system, called Canvas, will replace the current learning management system, ReggieNet, which has been in place for nearly 10 years. The recommendation for Canvas from the LMS Exam Leadership Team is based on input from University Deans, University Department Heads, the Office of the President, the Student Government Association, and the Academic Senate.
Investment project, WGLT
Trustees have authorized a capital project to plan, design and renovate space at 500 W. Locust St. in Normal that will integrate the offices of WGLT Radio Operations with the Student Newspaper The Videtta. The renovation, which will not exceed $650,000, will incorporate commercial and operational functions as well as educational opportunities for students.
Sublease for Mennonite College of Nursing
Trustees authorized the University to enter into a lease agreement with Memorial Health System to increase nursing education capacity through the Mennonite College of Nursing. The University will sublet 9,990 feet of space in Springfield, Illinois for classrooms, skills labs, offices and labs. The cost of space renovations and annual sublease payments, at $286,685, are expected to be covered by a Memorial Health System grant.
Raab Road Property
The Board of Trustees has authorized the University to enter into agreements to acquire the property located at 715 and 755 Raab Road, the former location of Lincoln College’s offices in Normal with a price not to exceed $4.1 million. The property, which follows the University’s plan to acquire strategic properties close to campus, is located adjacent to the University’s Center for Horticulture.
Recognition of former directors Rocky Donahue
The directors acknowledged the contributions of former director Rocky Donahue. Originally appointed to the board of directors in 2011, Donahue previously served as chairman of the board and is currently a member of the board of directors of the Illinois Public Transportation Association, the board of directors of Good Shepherd, a member of the legislative committee of APTA and ARC member from Illinois.