KENTUCKY STATE UNIVERSITY BOARD OF REGENTS Meeting of the Executive and Audit Committee

Thursday, March 4, 2021 at 1:00 p.m.

USDA Cooperative Extension Building Kentucky State University Frankfort, Kentucky 40601

**MEETING WAS ALSO CONDUCTED BY TELECONFERENCE**

MINUTES *****

Call to Order

Regent Farris, Chair of the Executive and Audit Committee, called the meeting to order at 2:26 p.m.

Roll Call

Regent Elaine Farris, Chair Present Regent Ron Banks Present Regent Mindy Barfield Present Regent Paul Harnice Present Regent Dalton Jantzen Present Regent Roger Reynolds Present

Quorum was established.

Adoption of the Agenda

MOTION by Regent Reynolds:

Move the Committee to adopt the agenda of the March 4, 2021 Executive and Audit Committee Meeting.

Seconded by Regent Jantzen and passed without dissent.

Agenda Item(s)

Action Item(s):

Pete Ugo of Crowe presented the audit and showed a significant improvement in the bottom line and a reduction in the number of findings. He stated that the audit could not be complete until the KSU Foundation provides its audit to KSU. The Foundation Audit is a component unit for KSU's audit.

MOTION by Regent Reynolds:

Move the Committee to postpone the approval of the FY2020 Audit. Seconded by Regent Banks and passed without dissent.