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Board of Regents Policy 8.212 Board of Regents Policy 8.212



Title

Guidelines on Use of Income from the University of Hawai‘i Mānoa Stadium Stock Fund, Proceeds from the Sale of the Kaimuki Observatory Lot and from the Rental of University Property

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Regents Policy Chapter 8, Business and Finance
Regents Policy RP 8.212, Guidelines on Use of Income from the University of Hawai‘i Mānoa Stadium Stock Fund, Proceeds from the Sale of the Kaimuki Observatory Lot and from the Rental of University Property
Effective Date:  Oct. 18, 2002
Prior Dates Amended:  Oct. 12, 1979; May 21, 1982; June 17, 1983; June 20, 1986; Feb. 17, 1995; Sept. 22, 1995; Jan. 21, 2000; Oct. 31, 2014 (recodified)
Review Date:  August 2018

I. Purpose

To set forth policies and guidelines on use of income from the University of Hawai‘i Mānoa Stadium Stock Fund, proceeds from the sale of the Kaimuki Observatory Lot and from the rental of university property.

II. Definitions

No policy specific or unique definitions apply.

III. Board of Regents Policy

    A. The payout of income earned from (a) the Mānoa Stadium Stock Fund, (b) the proceeds of the sale of the Kaimuki Observatory Lot, and (c) the rental of the university property herein called the Fund, shall not exceed 6% of the market value of the Fund on June 30 of the preceding year and shall be allocated in accordance with the following guidelines:

        1. The annual payout from the investment of proceeds from the liquidation of donated shares of the Honolulu Stadium, Ltd., supplemented as needs by the payout from the balance of the Mānoa Stadium Stock Fund shall be allocated as follows:

            a. A maximum of fifty percent of the potential payout from the Mānoa Stadium Stock Fund, as calculated above, on an annual basis, or so much thereof as may be needed as determined by the president, for scholarships  for student athletes and student support services at the University of Hawai‘i at Mānoa.

            b. A maximum of fifteen percent of the potential payout from the Mānoa Stadium Stock Fund, as calculated above, on an annual basis, or so much thereof as may be needed as determined by the president, for scholarships for student athletes and student support services at the University of Hawai‘i at Hilo.

            c. A maximum of $50,000 from the balance of the Mānoa Stadium Stock Fund for projects authorized by the president in consultation with the board that would assist the university in meeting its different obligations and opportunities and such other projects that would further the interest of the university. Grants for individual projects are limited to $15,000. Requirements in excess of the maximum limitations notes above require specific board approval.

            d. A maximum of $25,000 from the balance of the Mānoa Stadium Stock Fund for cash awards authorized by the board or by the president in consultation with the board, including the Board of Regents; Medal of Excellence in Teaching, Board of Regents’ Medal of Excellence in Research, Willard Wilson Distinguished Service Award, and Excellence in Building and Grounds Maintenance Award.

        2. The balance of annual payout from the Mānoa Stadium Stock Fund, or so much thereof as may be required, may be allocated annually by the board based on proposals submitted by the president for the following purposes:

            a. Student financial aid programs available to students on all campuses, including scholarships, grants-in-aid, loans and student employment.

            b. Other student-related needs not normally provided by legislative appropriations. Such allocations shall be on a “one-shot” basis, and shall not be provided for continuing programs other than for initial development and “start-up” purposes, with future funding to come from other sources.

        3. The president may set aside any unused balance of the Mānoa Stadium Stock Fund to support the Regents’ and Presidential Scholarships Programs.

        4. The president shall provide an annual report to the board regarding the payout of income from the Mānoa Stadium Stock Fund and from the proceeds of the sale of the Kaimuki Observatory Lot.

IV. Delegation of Authority

There is no policy specific delegation of authority.

V. Contact Information

Office of the Vice President for Academic Affairs, 956-7075, risad@hawaii.edu

VI. References


VII. Exhibits and Appendices

No Exhibits and Appendices found

Approved

    approved as to Form:    
    Cynthia Quinn    
    October 31, 2014    
    Date    
    Executive Administrator and Secretary of the Board of Regents

Topics

No Topics found.


Attachments

None