Rasnic said that accounting standards across the country have become more extensive, meaning that universities have had to reassess financial statements to avoid material weaknesses.
Through April 30, the University stood at $535 million for total commitments, reflecting a nearly 20 percent increase from the previous year.
The Committee first announced the implementation of a new advising software at its meeting last June.
The Board, composed of 17 voting members appointed by the governor, one non-voting faculty representative and one non-voting student member, typically convenes for regular meetings four times per year.
The Committee will review and vote on the budget for the 2024-25 fiscal year when the full Board reconvenes for its June meeting.
While the letter was largely supportive of University administration, JLAB did criticize the University Board of Elections for failing to adhere to its own rules during the recent spring elections.
After roughly 180 graduate students received late stipends in December 2022, the union sent an open letter to University leaders before organizing other forms of collective action.
One screen read “Rector Robert Hardie won’t confront antisemitism” while another said Hardie is “unfit to lead U.Va.”
The name alternative ultimately brought to the Board would honor Shannon, who initiated coeducation and racial integration at the University.
Rojas will end her term as the Board’s student member in June, when she will then be succeeded by Lisa Kopelnik, current third-year College student and University Judiciary Committee chair.
The University requested approval from the Board on proposed contracts with Cardinal Health LLC, a pharmaceutical company that will provide CAR T-cell therapies — a therapy used to treat cancer.
The Committee also reviewed a series of current and potential affordable housing investments across the Charlottesville area.
In a statement to U.Va. Today, President Jim Ryan said that the campaign’s success was a crucial step in the University’s 2030 plan, the goal of becoming the best public university by the year 2030.
Ian Baucom, executive vice president and University provost, stated that the Board will continue dialogue surrounding the Israel-Hamas war in future meetings.
Though University members have advocated for the name change for years, the re-opening of the library in January, after almost four years of renovations, has spurred even more debates.
More operation funds at the University and the University at Wise were added during the meeting.
The Committee voted to name the buildings Gaston House and Ramazani House after two former University professors, Paul M. Gaston and Rouhoullah “Ruhi” Ramazani, both of whom taught at the University for more than 30 years.
The status of undergraduate student advising has long been a focus of the Academic and Student Life Committee and an important part of the University’s 2030 plan.
The Joint Family Nurse Practitioner Program is one of the new programs beginning in fall 2022 and will allow students at Wise to obtain a Master of Science in Nursing in three years.
Of the $205 million that the University has signed in commitments since July 1, $126 million, or 63 percent, have come from gifts of $1 million or more.
