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Present the annual financial audit to the full Board;
Review the annual internal audit plan and discuss the extent to which it addresses high risk areas with President;
Review and submit the Internal Audit Charter to the Board for approval on a routine basis to include changes needed to ensure that the audit function is complying with professional standards, best practices, and addressing emerging audit issues.
The Executive and Audit Committee shall submit to the board of Regents for its ratification at the next full Board meeting a complete record of all actions taken by the Executive and Audit Committee."
Section 9.7 of the Gold Book states that the Finance and Administration Committee “shall review, evaluate, and provide guidance on financial and administrative issues, including the biennial budget requests submitted to governmental agencies, the annual operating budget of the University for each fiscal year, and all other financial, administrative, and budgetary matters. The President of the University shall appoint a member of the staff to serve as administrative agent to the committee.”
Section 10 of the Gold Book states that the President is the “chief administrative and educational officer of the University” and is tasked with preparing “annual budgets after consultation with, and input from, the Board and others as appropriate, and to recommend all other budgets and any modifications of these budgets as needed to the Board.”
In 2021, KSU had 173 faculty and 345 staff for a total of 518 total employees. Of those, 440 were full-time employees, while 78 were part-time employees. Figure 1 reflects KSU's organizational structure as of September 3, 2020, which consists of nine staff reporting directly to the President.