V. Closed Session

MOTION by Regent Moffett:

Move the Board to go into Executive Session to discuss pending litigation (KRS 61.8101)(c) and individual personnel matters (KRS 61.810 (1)(f)).

Seconded by Regent Banks and passed without dissent.

VI. Open Session

MOTION by Regent Reynolds:

Move the Board to reconvene in general session.

Seconded by Regent Harnice and passed without dissent.

VII. Update on Fall 2021 Admissions and Registration

President Brown shared an update on admission, stating that the University had a 59 percent admission rate and 546 freshmen enrolled this semester as of today.

VIII. Update on Finance and Administration Division Operations/Transition

President Brown reported that transition planning began following the resignation of the former CFO. KSU is posting the position for all available candidates. KSU is in touch with stakeholders to ensure its accounts are current. President Brown stated that the focus moving forward is to become revenue positive. He will come back with additional details about the transition at a future meeting.

VIX. Action Item

MOTION by Regent Banks:

Move the Board to approve the $5 million line of credit authorization.

Seconded by Regent Reynolds and passed without dissent

Regent McGraw recused herself from the vote on this motion.

IX. Adjournment

MOTION by Regent Harnice:

Move the Board to adjourn.

Seconded by Regent Burns and passed without dissent.

The meeting adjourned at 4:14 p.m.