Board of Regents approves budget changes, investment policy and graduation list; several procedural items adopted

The University of Guam Board of Regents on April 24 approved a series of routine and substantive items including a reapportioned FY2025 budget, an investment policy statement for a conservatively managed portfolio, and the university's 2025 commencement graduate listing.

The board voted, by voice, to approve the reapportioned FY2025 general and special appropriations budget after the Legislature provided a $5.7 million supplemental appropriation earlier this year. The board also adopted an investment policy statement (IPS) for the university's conservatively managed portfolio and approved the commencement graduate listing for 2025. The board voted to express appreciation to outgoing student regent Julie A. Laksamana. One resolution authorizing the president to petition the Guam Legislature to use land grant funding earnings for additional projects was tabled for a future meeting.

Several procedural items also passed by voice vote. The board approved the minutes of the Feb. 20 regular meeting, adopted the Board of Regents meeting schedule for academic year 2025–26 and elected new officers to take office June 1: Regent Pete Diaz as chairperson, Regent Mike Nohalua as vice chairperson and Regent Chris Duenas as treasurer. At the request of a faculty member, the board noted that Dr. Valentine withdrew his tenure application and took no action on it. The meeting adjourned after an executive session.

Votes at a glance

- Approval of regular meeting minutes (02/20/2025): motion moved by Regent Diaz; seconded by Regent Nohalua; outcome: approved (voice vote; no recorded roll-call in transcript).

- Resolution 25-06, approving the Funam Nakhon 2025 commencement graduate listing: mover: Regent Chun; second: Regent Malili; outcome: approved (voice vote).

- Resolution 25-07, expressing appreciation to Julie A. Laksamana for her service as a member of the Board of Regents: mover: Regent Malivai; second: Regent Nohalua; outcome: approved (voice vote).

- Resolution 25-08, adopting an investment policy statement for the conservatively managed portfolio: mover: Regent Duenas; second: Regent Nohalua; outcome: approved (voice vote).

- Resolution 25-09, authorizing the president to petition the Guam Legislature to utilize land grant funding earnings for additional projects: committee requested tabling; motion to table carried; outcome: tabled.

- Resolution 25-10, approving the reapportioned FY2025 general appropriations and special appropriations budget: mover: Budget, Finance and Audit committee (reported by Regent Nohalua); second: Regent Chen; outcome: approved (voice vote).

- Adoption of Board of Regents meeting schedule for academic year 2025–26: outcome: approved (voice vote).

- Election of officers (effective 06/01/2025): Regent Pete Diaz elected chairperson; Regent Mike Nohalua elected vice chairperson; Regent Chris Duenas elected treasurer (voice votes).

- Tenure application withdrawal: Dr. Valentine requested withdrawal of his tenure application; board took no action (noted on the record).

- Motion to enter executive session and subsequent adjournment: carried by voice votes.

Details and procedural notes

Most votes recorded in the transcript were taken by voice with participants responding “aye.” The transcript does not include roll-call vote tallies or recorded individual votes for the listed resolutions; where a mover or seconder was named, that is listed above. The board announced the tabling of Resolution 25-09 so it can be re-advertised and returned to the full board at a planned special meeting in May.

The board's adoption of the reapportioned budget follows news earlier in the meeting that bill 58-38 became law, providing the university with a $5.7 million supplement that the administration said averted a “payless payday.”