Baylor Regents Approve $237 Million Operating BudgetMay 5, 2000
Baylor University regents today adopted a $237 million operating budget for 2000-2001, elected officers, named six new regents to the board, and approved a resolution designating retiring Chancellor Herbert H. Reynolds as president emeritus, effective June 1.
Next year's budget, which takes effect June 1, is a $17 million, or 7.7 percent, increase over the current budget of $220 million.
John G. Wilkerson Jr., chairman of the board of Wilkerson Storage Co. in Lubbock, was elected chairman of the board of regents. Elected as vice chairs were William H. Brian Jr., attorney, Amarillo; Mary Chavanne-Martin, private investments, Houston; and Drayton McLane Jr., chairman of the Houston Astros, Astrodome USA and McLane Group L.P., Temple.
Elected to three-year terms on the board of regents were Carl W. Bell, president and CEO of Bell Insurance Group Inc., Dallas; Toby A. Druin, Baptist Standard editor emeritus, Duncanville; Phil Lineberger, pastor, Williams Trace Baptist Church, Sugar Land; Belinda A. Reyes, speech pathologist, San Antonio; Donell Teaff, author and speaker, Waco; and Jim L. Turner, president and CEO of Dr Pepper/Seven Up Bottling Group Inc., Dallas.
Three current regents were re-elected to additional three-year terms. These include Chavanne-Martin; State Sen. David M. Sibley, Waco; and McLane.
Rotating off the board after nine years of service are John T. Boyd, chief justice, Seventh Court of Appeals, Amarillo; W. Fred Cameron, Houston attorney and past chairman of the board of regents; Will Long, Belton physician; Jaclanel McFarland, Houston attorney; Ramiro Pena, Temple physician; Daniel P. Roper Jr., Sulphur Springs dentist; Ralph Storm, Corpus Christi businessman; and Nancy Thurmond, Fort Worth realtor.
Reynolds was named Baylor chancellor on June 1, 1995, following 14 years of service as university president. The resolution adopted by the regents reads, in part: "In recognition of his unselfish and dedicated service to Baylor University for these many years, the board of regents wishes to bestow a befitting title upon Dr. Reynolds as he enters into retirement as chancellor but recognizing that Dr. Reynolds will continue in various ways to serve and support Baylor University."
In other business, regents were presented with several potential funding options for a proposed $60 million science building and $20 million in renovations to the existing Marrs McLean and Sid Richardson Science Buildings. No action was taken on the funding options. Regents were told that Baylor's development office has begun preparing grant proposals to submit to major foundations. Final financing options for the science facilities will depend on the amount raised from foundations in the coming months.