The nominees for Bred of the Quarter include: John Hargrave, Chandee Felder, Rebecca McCoy, Deanna Brown, Sophia Rucker-Taylor, Cheryl Dunn, Bobby Walter, David Morton, Nandi Thomas, Adriana Palmer, Jacqueline Duvall, Shimar Keith, Devin Agnew, Destini Baker, and Ellsworth Davis.
Adriana Palmer was the June Bred of the Month, Ellsworth Davis was the July Bred of the Month, and Devin Agnew was the August Bred of the Month.
Regent Farris also asked to acknowledge facilities for a job well done in preparing campus for students.
Greg Rush, Vice President for Finance and Administration/CFO, provided an update on the finance items discussed at the August 18, 2021 meeting. He reported that past due construction invoices are $5.2 million instead of $5.5 million and the energy performance contract was actually due on July 1st, not June 30th. The Asset Preservation Fee should be accounted for separately which has not been done in the past. There should be $1.2 million in reserves for this fund since 2019 but it was negative by around $300,000.
Mr. Rush stated that KSU is working with CPE on a revised budget structure. Going forward, Finance and Administration will provide the Board with four budgets: E&G Budget, Auxiliary Budget, Asset Preservation Budget, and Land Grant Match Budget. Board approval will now be required to move money between these funds. It is anticipated that the new budget proposal will come to the Board in December.
Residence hall construction is on track for completion by January 2023. All in all, the interest rate for the note was less than anticipated. The first lease payment is due in March of 2024.
As of June 30, 2020, KSU had $2.6 million in unpaid invoices. As of June 30, 2021, KSU had $4.2 million in unpaid invoices. Currently, KSU is working through the past due invoices and no invoice is more than 60 days old. The goal is to stay at 30 days. Going forward, invoices will not be paid without a purchase order.
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