UA-R-GC-1914-01-01-1988-11_Page-003

Board of Trustees -3- November 22, 1988 Dormitory and Other Construction Projects- At the beginning of the construction phase, there were problems with SCI (the construction firm chosen) which did not appear to be organized to get its work started on time. More recently they have been working steadily, with a more workmanlike approach. While the Dormitory construction is now moving along fairly well, the President briefed the Board on the problems encountered at the beginning of the construction phase. These included a dispute over whether AUC owned the walls on the building site and a number of problems with those living next to the construction site. While it is still possible to complete the building as scheduled in May 1990, the problems encountered may cause a delay in the completion of the project and may require retaining interim hostel space elsewhere. The Jameel building is essentially finished and partially in use. Preparations are being made for an inauguration ceremony at the time of the Board meeting in Cairo in February/March, 1989. The President reported that Mr. Jensen, AUC's Project Manager, would be leaving shortly and that steps were underway to identify a successor. On other campus planning matters, the President reported that the documents for the purchase of the property on Mohamad Mahmoud Street had been signed and that three of the six apartments will be remodeled. Finances - A substantial surplus has been recorded for the 1987/88 fiscal year and the Finance Committee has discussed the allocation of this surplus and will report on their recommendations later in this meeting. While there were some expected problems with the tuition fees for this year, almost 700 students registered in the first semester and tuition income is expected to reach target. Income from u.S. Government funding is expected to be less than 10% of the 1988/89 budget and efforts are underway to increase AID/asha funding from $500,000 to $1 million. Plans are also underway to seek to restore the value of the u.S. Embassy Trust Fund to the $50 million which Congress intended. This would mean adding 60 to 65 million Egyptian pounds to that Trust. It is expected that these funds will come from the Commodity Import Program (CIP). Ambassador Wisner is working on both of these issues. 6. Address of Dr. McLenahan: Dr. McLenahan described to the Board his memories of growing up i