DA 2016

A.

The Policy authorizes the President to establish an annual net earnings target for the University of California Housing System (UCHS), which amount shall be at least sufficient to comply with all relevant covenants of The Regents pertaining to debt service coverage and maintenance obligations which are contained in loan documents applicable to UCHS facilities and to otherwise assure the continuing financial viability of the UCHS;

B.

to establish rents and other fees for use of UCHS facilities at levels which are adequate to generate the net revenues necessary to comply with such covenants and financial objectives;

C.

to establish rents and other fees for use of University-operated housing facilities that are not part of the University of California Housing System (Campus Housing Facilities) which are at least sufficient to comply with debt service coverage and maintenance obligations contained in loan documents applicable to those facilities; and

D.

the Policy directs the President to provide The Regents annually with a summary of rents to be charged in the next succeeding fiscal year for all University-operated housing facilities.

Effective immediately, the authorities granted to the President in Sections B. and C. above, are delegated to Chancellors, with the understanding that the net revenues from such rents and other fees, after payment of operating expenses, will at all times be sufficient to meet debt service coverage and maintenance obligations contained in loan documents applicable to such housing facilities.

The President's authority to establish annual net earnings targets for UCHS and his responsibility to provide The Regents with a summary of rents to be charged in the next succeeding fiscal year for all University-operated housing facilities, as specified in Sections A. and D. above, are delegated to the Senior Vice President--Business and Finance. The Senior Vice President--Business and Finance will advise Chancellors to forward to his office annually a summary of rents for all University-operated housing facilities within their areas of jurisdiction.

Any redelegation of these authorities shall be in writing with a copy to the Senior Vice President--Business and Finance, the Special Assistant--Coordination & Review, and the General Counsel and Vice President for Legal Affairs.

This delegation supersedes the December 1, 1982, delegation of authority to the Vice President--Financial and Business Management (DA 0745) on this same subject.



J. W. Peltason

cc:

Members, President's Cabinet
Assistant Vice President--Facilities Administration
Special Assistant--Coordination & Review
General Counsel and Vice President for Legal Affairs