The trustees approved revising the awards program so that prizes in each category will carry a cash value of no more than $200,000 and no less than $100,000. The amount of each year’s awards will be based on the performance of the Grawemeyer endowment. Previously, each award value was set at $200, 000 and paid in installments over five years.

Provost Shirley Willihnganz told the board that the monetary value of many prestigious prizes, including the Nobels, changes based on market conditions.

In no way will this affect the quality of the awards, she said. But it makes sense in a down economy to make this move. We do not want to cut into the principle of the endowment.

The proposal also authorizes the Grawemeyer Executive Committee to recommend to the UofL president additional budget increase and decrease decisions in areas covered by Grawemeyer endowment funds.

The changes still must be approved by the Grawemeyer Executive Committee before they take effect.

Also at the trustees meeting, the board approved the 2010 Alumni Fellows for 10 of the university’s colleges and schools. Alumni Fellows Awards are the most prestigious award given by the Alumni Association. Fellows are invited to return to campus during Homecoming week and share their expertise with students, faculty and staff.

The fellows are:

  • Arts and Sciences: Stephen A. Elbert
  • Business: Maria L. Bouvette
  • Dentistry: William E. Collins
  • Education and Human Development: Lois C. Adams-Rodgers
  • Speed School of Engineering: Lt. Col Veloris (Sonny) A. Marshall III
  • Kent School of Social Work: Rev. Timothy H. Moseley
  • Brandeis School of Law: Barbara B. Lewis
  • Medicine: Mark F. Newman
  • Music: David K. Updegraff
  • Nursing: Carlton G. Brown

In other action, the board:

  • Approved creation of a graduate certificate in real estate development in the College of Arts and Sciences
  • Approved changes to the university travel, entertainment and expense reimbursement policy. When the changes have been implemented, UofL’s reimbursements will mirror those offered by the federal government. Items covered include per diem meal allowances and mileage allowances.
  • Approved continuation of Mickey Wilhelm as dean of the J.B. Speed School of Engineering following his 10-year review.