Dean Wilburn of Harrison was elected chairman of the Arkansas Tech University Board of Trustees for the 2010 calendar year during a board meeting at the Ross Pendergraft Library and Technology Center on Thursday.
Wilburn (photographed), a 1959 graduate of Arkansas Tech, has served on the Tech Board of Trustees since 2001. He previously served as chairman of the board in 2005.
Other board officers for 2010 are John Ed Chambers III of Danville, who will serve as vice chairman, and Leigh Whiteside of Russellville, who will serve as secretary.
In addition to electing officers, the Board of Trustees took care of three housekeeping items on Thursday.
In accordance with Act 4 of 1991, the board reviewed and approved the most recent financial audit report pertaining to Arkansas Tech finances.
David Moseley, senior vice president for administration and finance, reported that “the independent audit report indicates our financial statements present fairly, in all material aspects, the financial position of Arkansas Tech University as of June 30, 2009.”
In December 2009, the board approved the university’s financial statement for the 2008-09 fiscal year, which showed that Arkansas Tech had total net assets of $76.2 million.
The board also met its requirements as set forth by Act 1646 of 2001 by reporting to the chief fiscal officer of the state and the legislative council that Arkansas Tech has sufficient appropriations and funds to be able to meet all current and anticipated obligations during the fiscal year as they become due.
And in one final procedural measure, the board gave its authorization for expense reimbursement for each board member when they perform official board duties during 2010.
The Board of Trustees votes on that matter at the first meeting of each calendar year under the guidelines set forth in Arkansas Statute 25-16-902.
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