Board of Trustees Meeting - February 6, 2025

The University of Alabama System Board of Trustees held a Finance Committee meeting on February 6, 2025, where they reviewed and approved multiple procurement and budget-related items. Key discussions included investment portfolio updates with recommendations to terminate a public equity strategy and commit $20 million to a private real assets fund, as well as $60 million to a public diversifying strategy fund. The committee approved contract extensions for financial advisory services and amendments to board rules affecting contract approvals and depositary authorizations. Several capital improvement projects were presented and approved, including the purchase of eight electric buses, construction of a student well-being hub, basketball training facility expansion, battery research center renovations, ROTC facility development, and various campus renovations and infrastructure upgrades. Funding sources included grants, reserves, and bond funds. Additionally, the committee approved a real estate sales agreement and loan agreements related to fraternity housing. The meeting concluded with the approval of financial statements and audit reports, noting no significant issues. No purchases met the threshold for quarterly purchasing report disclosures during the prior quarter.