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

*** Meeting Was Conducted in Person and by Teleconference *** Friday, September 27, 2024 9:00 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

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I. Call to Order

The Finance & Audit Committee’s Chair, Regent Edward Hatchett, Esq., called the meeting of the Finance & Audit Committee to order at 9:06 a.m.

II. Roll Call

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

Regent Edward Hatchett Esq., Chair Present Regent Ernie Fletcher, MD., Co-Chair Not Present Regent Charles Moyer, PhD Present Regent Robert Ramsey, Sr. Present

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

III. Approval of the Agenda

MOTION by Regent Moyer:

Approve the Finance & Audit Committee’s portion of the agenda for the September 27, 2024, regular joint meeting of the Finance & Audit Committee and Investment & Advancement Committee. Second by Regent Ramsey and passed without dissent.

IV. External Audit Update

This agenda item was presented by Ms. Vicki Dunaway, VP of Finance & Administration & CFO, as CliftonLarsonAllen, LLP, was unable to be present. VP Dunaway reported that the testing phase of the FY 23 audit is underway and should be completed within the next few weeks. Overall, CLA is