KENTUCKY STATE UNIVERSITY BOARD OF REGENTS FINANCE & AUDIT COMMITTEE AND INVESTMENT & ADVANCEMENT COMMITTEE REGULAR JOINT MEETING

Meeting Was Conducted in Person and by Teleconference

Tuesday, May 28, 2024 10:00 a.m. EDT

Board of Regents Room Julian M. Carroll Academic Services Building, 2nd Floor 400 East Main Street Frankfort, Kentucky 40601 (Primary Physical Location)

MINUTES *****

I. Call To Order

The Finance & Audit Committee’s Chair, Regent Edward Hatchett, Esq., called the meeting to order at 10:03 a.m.

II. Roll Call

The Board's Secretary, Zachary Atwell, called the roll:

Regent Edward Hatchett, Chair Present

Regent Ernie Fletcher, MD, Co-Chair Not Present

Regent Tammi Dukes Present

Regent Robert Ramsey, Sr. Present

Three (3) Regents were in attendance and present at roll call. A quorum was therefore established.

III. Approval of the Agenda

MOTION by Regent Dukes:

Move the Committee to approve the agenda of the May 28, 2024, meeting of the Finance & Audit Committee.

Seconded by Regent Ramsey and passed without dissent.

IV. External Audit Updates

This agenda item was presented by Mr. Allen Norvell, Director for Blue and Co., LLC. Mr. Norvell stated that the final FY22 financial audit and FY22 compliance audit report was issued on April 15, 2024. Hearing no questions regarding the FY22 audit, he moved forward with the status of the FY23 audit.