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            "text": "KENTUCKY STATE UNIVERSITY\nRegular Meeting of the Board of Regents\nBusiness Affairs and Audit Committees\nOctober 22, 2015\n1:00 pm to 2:30 pm\nCooperative Extension Building Conference Room\nFrankfort, Kentucky",
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            "text": "Update on Debt Collections",
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            "text": "The University currently has 1,408 accounts placed with 3 collection agencies and the Kentucky Department of Revenue."
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            "text": "As of September 30, 2015, the following amounts are in active collections with these agencies:"
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                    "text": "Agency\nDepartment of Revenue\nNational Credit Management\nWilliams & Fudge\nConserve\nTotal",
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                    "text": "Number of Accounts\n178\n800\n429\n1\n1,408",
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                    "text": "Amount Placed\n$1,979,792.77\n$3,816,841.05\n$1,934,164.72\n$12,292.16\n$7,743,090.70",
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            "text": "Between now and the end of October, the Bursar's Office will place an additional 1,668 accounts totaling $4,063,224.32 with the Department of Revenue. Having these accounts placed with the Department of Revenue before tax season increases the chance of recovery from the delinquent account holder's tax refund."
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            "text": "Surplus Declaration Process",
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            "text": "The University has the following process in place to dispose of assets that have reached the end of their useful life. It typically takes two weeks from the time the department initiates the surplus declaration process until the item is moved to the holding area by Facilities and Maintenance Operations."
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                    "text": "Department completes Property Disposition Form and obtains supervisor approval.",
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                    "text": "Department routes Property Disposition Form to Purchasing Department to log for tracking purposes.",
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                    "text": "Purchasing Department routes Property Disposition Form to Accounting Department to update Fixed Assets system.",
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            "text": "[9]",
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