The Board of Trustees met at the Chicago campus Thursday to discuss the University’s finances, medical education and renovation projects. Trustee Pam Strobel, co-chair of the Presidential Search Committee, said the next University president will be announced by the end of November. 

Richard Dye, professor emeritus on the Institute of Government and Political Affairs, presented a quarterly report illustrating the state’s economy, summarizing Illinois is significantly behind the rest of the Midwest. 

Additionally, the state has a growing structural deficit. By September 2014, the unemployment rate stood at 6.6 percent. 

Dye’s presentation also showed that Illinois is the only state in the Midwest that has experienced a sharp decline in civilian labor force in 2014.

In addition, Dye emphasized that Illinois has the worst bond ratings of all 50 states, meaning it has a very high borrowing cost.

The Board of Trustees approved a $180,000 performance-based bonus for President Robert Easter, to be awarded prior to his retirement in June 2015.

Previously, all top executives were given retention bonuses. However, the Board decided to begin rewarding the president for accomplishments last year.

When he assumed the role of president in March 2012, following the resignation of Michael Hogan, Easter was earning a starting salary of $450,000, roughly $200,000 less than Hogan.

After a 3.5 percent increase he received in September, Easter’s current salary amounts to $478,558.

The board is now considering a proposed College of Medicine with a bioengineering focused program on the Urbana campus and a proposed Illinois Translational Bioengineering Institute Chicago campus. 

Trustees approved directing President Robert Easter to consider each proposal. 

Professor Mary Jo LaDu spoke to the board on behalf of the UIC Senate, expressing its concern about the financial consequences of creating a College of Medicine in Urbana. 

Rashid Bashir, UIUC professor in engineering, spoke on behalf of Urbana’s proposal to emphasize that all three campuses would benefit as early adopters of these technologies.

The board is now considering a proposed College of Medicine with a bioengineering focused program on the Urbana campus and a proposed Illinois Translational Bioengineering Institute Chicago campus. 

Trustees approved directing President Robert Easter to consider each proposal. 

Professor Mary Jo LaDu spoke to the board on behalf of the UIC Senate, expressing its concern about the financial consequences of creating a College of Medicine in Urbana. 

Rashid Bashir, UIUC professor in engineering, spoke on behalf of Urbana’s proposal to emphasize that all three campuses would benefit as early adopters of these technologies.