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            "text": "Docusign Envelope ID: DFFEC927-96DA-4F24-9F9A-EA55D5C94B80",
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            "text": "Three (3) Regents were in attendance and present at roll call. A quorum was therefore established."
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            "text": "III. Approval of the Agenda.",
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            "text": "Regent Dukes moved to approve today's agenda. Regent Hatchett seconded the motion."
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            "text": "IV. Finance and Administration Updates by Dr. Heather Bigard.",
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            "text": "A. Current budget.",
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                    "text": "Projecting revenue of $34.7 million. Currently at $18.3 million now. Projecting will be a little below budget at $33.4 due to the increased investment they have made in scholarships and waivers to assist students with their tuition.",
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                    "text": "Also trying to align payroll to the original budget."
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                    "text": "Also paying attention to trends in terms of expenses and contracts that were renewed."
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                    "text": "Projecting deficit of $728,000 in the EMG budget.",
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                    "text": "Will come back with an amended budget in January or at the next meeting that will include a reduction whenever possible in operational expenditures."
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                    "text": "Regent Hatchett commented on the blank spaces in the report and the inadequate attention to uncollected student debt."
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                    "text": "Regent Hatchett also commented on being behind last year in net student tuition and fees collection. Collected 57.1% last year and is at 48.1% this year."
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                    "text": "Dr. Bigard discussed the updates on the items that Regent Hatchett referred to as blanks."
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                    "text": "There was a discussion between Regent Hatchett and Dr. Bigard on the issue of uncollected student debt."
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                    "text": "Regent Moyer discussed the example used by healthcare for projected bad debt.",
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                    "text": "Regent Moyer inquired on the relationship between bad debt and the scholarship account.",
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                    "text": "Dr. Bigard discussed the three categories of scholarships, discounts and waivers for fees. She also discussed endowment scholarships."
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                    "text": "Regent Moyer commented on generally accepted accounting principles.",
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                    "text": "Regent Dukes commented that this is the most reliable set of numbers that they have seen in a while and they are trying to make sure they have full transparency.",
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                    "text": "Dr. Bigard responded that they are working on the cash flow because that is where they are seeing impact of the budget activities."
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                    "text": "Regent Moyer commented that he has confidence that they are making good progress on their financial reporting.",
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                    "text": "Regent Hatchett and Regent Moyer asked questions about the endowment and",
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