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Hudspeth Signs a New Deal
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Vobserver Offline
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Post: #11
RE: Hudspeth Signs a New Deal
(05-10-2014 03:37 PM)arkstfan Wrote:  
(05-10-2014 01:11 PM)Vobserver Wrote:  
(05-10-2014 11:03 AM)arkstfan Wrote:  
(05-10-2014 09:38 AM)Vobserver Wrote:  [quote='arkstfan' pid='10738957' dateline='1399726948']
We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the
So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
Dang who thought up that escrow requirement? LSU?

Yes, with help from a few crabs in the UL System bucket.
05-10-2014 05:17 PM
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arkstfan Away
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Post: #12
RE: Hudspeth Signs a New Deal
(05-10-2014 05:17 PM)Vobserver Wrote:  
(05-10-2014 03:37 PM)arkstfan Wrote:  
(05-10-2014 01:11 PM)Vobserver Wrote:  
(05-10-2014 11:03 AM)arkstfan Wrote:  
(05-10-2014 09:38 AM)Vobserver Wrote:  [quote='arkstfan' pid='10738957' dateline='1399726948']
We only have to deal with our five member board of trustees.

The approval that Geaux is referring to is a rubber stamp deal. The only time it would ever be turned down is if there are no funds in place to pay for it. Since we all know that; the proposal never gets there unless we have the money in hand to pay for it. This may mean escrowing enough funds to pay the maximum possible total cost of the contract, but if that is done, the deal will be approved.

It is a hurdle, but not if the school is able to pay the
So it waits to the next regular meeting, president says please approve, here is how we are paying, the board then moves on to the next order of business?

No big whoop I'd say unless there were something that needed ASAP approval which doesn't happen often.

That is it, pretty much. If the total amount exceeds the state maximum pay for a HC ($235K/yr, I think), say it comes in for 4 years at $835K/yr... UL will be required to escrow $2,400,000 to pay the excess.
Dang who thought up that escrow requirement? LSU?

Yes, with help from a few crabs in the UL System bucket.

Long-term it's not that bad because presumably the pace of pay increase will slow, but it reminds me of the old Arkansas higher ed funding formula that was based on four or five year average enrollment. When we had a rapid growth spurt we were being funded as if we quite a bit smaller and it didn't catch up until years later. We basically had to front the costs until it caught up.
05-10-2014 05:29 PM
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