{
    "document_id": 15036,
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        {
            "id": "p2.1",
            "order": 1,
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            "bbox": {
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            "text": "Next, Mr. Norvell shared a draft of the FY22 audit with committee members. Chair Hatchett inquired when the final version will be completed and available. Mr. Norvell responded that it would be available on April 9."
        },
        {
            "id": "p2.2",
            "order": 2,
            "type": "text",
            "bbox": {
                "l": 105.12,
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                "b": 598.56
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            "text": "Mr. Norvell continued his presentation with highlights of the FY22 audit findings. Regent Dukes asked whether anything else besides the outstanding legal letters and internal quality review would prevent the Board from receiving the final report by April 9. Mr. Norvell stated that nothing else would impede delivery by the April 9 date. Regent Dukes suggested to Chair Hatchett that the Committee convene for a special meeting after April 9 to review the final report."
        },
        {
            "id": "p2.3",
            "order": 3,
            "type": "text",
            "bbox": {
                "l": 105.36,
                "t": 586.32,
                "r": 478.8,
                "b": 572.88
            },
            "text": "Chair Hatchett requested that Mr. Norvell elaborate on the certificates of participation."
        },
        {
            "id": "p2.4",
            "order": 4,
            "type": "text",
            "bbox": {
                "l": 105.6,
                "t": 559.44,
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                "b": 546
            },
            "text": "Regent Moyer inquired into the maturity of the long-term debt and the state loan."
        },
        {
            "id": "p2.5",
            "order": 5,
            "type": "text",
            "bbox": {
                "l": 104.88,
                "t": 532.8,
                "r": 542.16,
                "b": 451.2
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            "text": "Regent Fletcher queried whether Mr. Norvell had reviewed any agreement establishing the debenture from the University to CPE. Mr. Norvell responded that he was not aware of any documents other than HB 250 and the MIP. Regent Fletcher asked Chair Hatchett whether it was unusual to have a loan between agencies without specific documentation setting forth terms and conditions. Mr. Travis Powell, VP and General Counsel for CPE, joined the meeting and provided clarification as to repayment terms regarding the $23M loan received from the State."
        },
        {
            "id": "p2.6",
            "order": 6,
            "type": "text",
            "bbox": {
                "l": 104.64,
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            "text": "Mr. Norvell concluded the FY22 audit presentation and opened the floor for questions. Hearing none, he moved forward with an update on the FY23 audit, including next steps to be taken."
        },
        {
            "id": "p2.7",
            "order": 7,
            "type": "text",
            "bbox": {
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            "text": "Chair Hatchett asked Mr. Norvell when he expected to have the FY23 audit completed."
        },
        {
            "id": "p2.8",
            "order": 8,
            "type": "text",
            "bbox": {
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            "text": "Regent Dukes sought clarification that Mr. Norvell had not yet received the FY23 ledgers. Mr. Norvell responded affirmatively. Regent Dukes queried when the audit would be ready once Mr. Norvell has the ledgers. Mr. Norvell responded that he did not have an answer to that."
        },
        {
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            "type": "heading",
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            "text": "V. Internal Audit Update",
            "attrs": {
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            "level": 3
        },
        {
            "id": "p2.10",
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            "type": "text",
            "bbox": {
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            "text": "Mr. Benjamin Martin, Senior Manager, CBIZ, presented this agenda item. Mr. Martin introduced Ms. Megan Young and Ms. Miranda Murray. Ms. Young began the update with a discussion of accomplishments to date, including the completion of the financial aid and fixed asset existence audits, then explained the next steps to be taken."
        },
        {
            "id": "p2.11",
            "order": 11,
            "type": "text",
            "bbox": {
                "l": 104.88,
                "t": 236.4,
                "r": 541.92,
                "b": 182.4
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            "text": "Mr. Martin joined the presentation, stating that management had determined that a Banner license review and Sodexo invoice review were not needed. Chair Hatchett inquired whether it was fair to say there would be no Sodexo overhang regarding this work since they are no longer a contractor with the University."
        },
        {
            "id": "p2.12",
            "order": 12,
            "type": "text",
            "bbox": {
                "l": 104.88,
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                "r": 542.16,
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            "text": "Regent Dukes asked Ms. Young whether she also could summarize the status of remediation for each audit finding, inquiring whether the University is on track for resolving issues or whether this is just a list of findings for which no action has been taken."
        },
        {
            "id": "p2.13",
            "order": 13,
            "type": "text",
            "bbox": {
                "l": 104.64,
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                "r": 438.72,
                "b": 113.04
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            "text": "Ms. Young concluded the presentation with an internal audit timeline update."
        }
    ],
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        "first": [],
        "last": []
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}