Committee approves consent report including emergency repair funding and several contracts

The Finance & Operations Committee approved the February consent report, which included adjustments to central reserves and several contract approvals.

Executive Vice President Goldman summarized the consent items. The committee approved increasing the central reserve planned allocations by $2,000,000 to cover an emergency Northrop East par plat wall repair not covered by insurance, moving total central reserve allocations from $52,700,000 to $54,700,000 and reducing projected year‑end reserve balances accordingly. Trustees also approved three purchases requiring board approval: an annual asphalt maintenance contract for the Twin Cities campus estimated at $1,200,000 with options that could bring the total to $6,000,000 over extensions; a contract estimated at about $32,000,000 to provide a health‑exchange marketplace option for Medicare‑enrolled retirees (noted in the materials to be cost‑neutral to the university, paid by retirees); and a $13,500,000 long‑term service agreement with GE Verona Operations LLC to maintain turbines and the generator at the main energy plant. The committee also received and approved an off‑cycle tuition rate adjustment request for the Carlson School of Management’s Master of Science in Finance summer‑start program.

Chair Huebsch invited questions, recorded a motion and a second, and the committee approved the consent report by voice vote. No items were separated out for individual votes at this meeting.