Review spending from drawn funds and repay the funds to the endowment to ensure donor funds are made whole Concur TBD BOR/President TBD
Review whether the 2012 policy remains in effect and, if so, how it can be harmonized with the 2018 policy Concur Ongoing Board SUMMER 2023
President should appoint an Investment and Endowment Committee, which would be responsible for implementing monitoring and reporting controls Concur Ongoing Board/President SUMMER 2023
Any reports to CPE and applicable donors should occur as prescribed in a transparent manner Concur Ongoing President SUMMER 2023
Confirm what percentage the endowment drawdown is/may be Concur Completed CFO SUMMER 2023
Donor agreements should be obtained with each donation and maintained indefinitely Concur Ongoing President SUMMER 2023
10 Provide only those benefits outlined in service contracts and HR documents for applicable employees that are properly approved and supported Concur Completed CFO/Legal 7/1/22
Discontinue awarding bonuses in violation of Section 3 of the Kentucky Constitution Concur Completed CFO/Legal 7/1/22
KSU Board Chair and HR Director should meet periodically to review benefits received by, and payroll payments issued to, all Vice President-level and above employees and compare to similar information from prior periods Concur TBD BOR/President TBD
Ensure any changes made to benefits both in service contracts or in policy include an effective date and specifically state whether or not retroactive payment is necessary Concur Ongoing CFO/Legal SUMMER 2023