Regent Walston asked whether the new MOU would address the Foundation’s financial transparency issues under discussion. President Akakpo reminded Regent Walston that based on Mr. Peale’s earlier remarks, even if the MOU were renegotiated, the Foundation would not sign it until the litigation is over.
Chair Moyer presented this agenda item, reiterating that the current issue affecting the MOU renegotiation is one of timing, as the Foundation wants to wait until the litigation is settled before signing a new MOU. Chair Moyer recognized that both sides agree that a new MOU is needed, suggested moving forward with a preliminary draft of what the Board thinks the MOU should look like, and offered suggestions as to tone and content.
A discussion ensued as to how to best move forward with renegotiating a new MOU.
Regent Walston sought confirmation as to Mr. Peal's prior comments that the Foundation would work with KSU in moving the MOU negotiation process forward.
Regent Fletcher requested Mr. Atwell to comment on an anticipated time frame for the Foundation's appeals process. Regent Fletcher also queried as to whether the University had standing to submit an advisory or amicus brief.
Chair Moyer observed that the meeting was an interesting opportunity to exchange views and stated that he looks forward to moving the MOU ahead while the Foundation’s court proceedings also progress.
MOTION by Regent Ramsey:
Move the Committee to adjourn.
Seconded by Regent Hatchett and passed without dissent.
The meeting was adjourned at 11:38 a.m.
Submitted by:
Zach Atwell, Secretary
Board of Regents
Kentucky State University
Charles Moyer, PhD, Chair Investment & Advancement Committee Board of Regents Kentucky State University
Approved with no corrections
___ Approved with corrections