Regent Dukes requested that Chair Moyer be included in the evaluation committee for the RFP.

Regent Hatchett asked whether it is typical for a University to receive only one bid in response to an RFP for philanthropy review.

Chair Moyer queried whether the new Endowment Investment and Spending Policy was fully approved yet, noting that Cerity's most recent report is not operating consistently with the policy.

Mr. DeCourcy began the presentation juxtaposing the University’s policy outline with Cerity Partners’ asset allocation report. He continued with a quick overview of Cerity’s performance report, comparing the account market value through September 2024 with the value when the account was established in 2019.

Regent Hatchett requested an internally produced report regarding the history and performance of the University's accounts when they were managed by other contractors versus Cerity's current performance.

Chair Moyer inquired into the transition date to Cerity and the different fee structures that had been in effect prior to the transition.

Next, VP DeCourcy discussed the Endowment’s market value with Cerity Partners, sharing the KSU Endowment net assets from June 2022 through August 31, 2024, then described upcoming quarterly Endowment distributions to occur from Sept 30, 2024, through June 30, 2025.

Regent Hatchett sought clarification regarding the process for choosing recipients of Endowment proceeds.

Moving ahead, Dr. Michael Dailey, Provost, provided an overview of endowed departmental support distributions, including the Center of Excellence for the Study of Kentucky African Americans (“CESKAA”), the Library Fund, and Campus Information Technology.

Regent Hatchett asked where CESKAA's African American history collection is currently housed and whether Dr. Dailey was comfortable with the level of security under which these resources are managed.

Regent Walston queried whether all artifacts in the CESKAA collection had been properly inventoried.

Dr. Dailey then introduced Ms. Asia Payne, Scholarship Coordinator. Ms. Payne presented the endowed scholarship distributions and discussed new procedures and requirements moving forward regarding scholarship recipients, the online scholarship manager, scholarship applications and future stewardship.

Regent Hatchett asked Ms. Payne how she had overcome the FAFSA situation.

Regent Walston inquired whether faculty members were made aware of scholarship recipients and whether any endowed scholarships were available for faculty as they had been with the KSU Foundation.