Following the Blue and Co. update, Dr. Burnette introduced Ms. Tonya Walker, Controller, who provided the Controller Update.

Regent Walston posed a question regarding drawdowns.

Regent Moseley asked whether KSU is still projected to have six million dollars cash on hand at the end of the physical year even though there were unfunded budget requests and enrollment did not reach the projected goal.

Regent Moseley inquired as to the number of outstanding bills remaining, and asked whether all outstanding bills were caught up. Ms. Walker replied that they were not caught up yet.

Regent Moseley asked when the outstanding bills would be fully paid, and also inquired into the status of the elevator repair in the Academic Services Building.

Next, Ms. Walker discussed debt collection activities with Keys2Recovery collections agency. Ms. Walker further identified an issue which had resulted from an incorrect file being sent from KSU to Keys2Recovery, and explained how the error was being corrected.

As to the money that was to be collected, Regent Moseley queried what the minimum amount was being collected, and what percentage of the amount collected is being charged by Keys2Recovery.

Following that conversation, Ms. Walker presented upcoming activities over the next three months.

Regent Hatchett noted that the focus seemed to be on debt collection from former students and asked what is being done about current students who owe money to the University.

Regent Walston inquired whether HEERF Funds need to be used by October 30.

Regent Moyer asked whether the existing debt was due more to students who had graduated, or students who failed to graduate, whether there was a significant difference between those two groups, and whether a 2.0 GPA was the minimum required for graduation.

Dr. Burnette then introduced the Grants Manager, Mr. Justin Peach, who provided the Grant Accounting Update.

Mr. Peach noted that KSU currently holds 96 active grants. Additionally, the Grants Office was completely vacant for several months in 2022 after all previous staff members resigned. However, the University assigned 3 temporary staff members to this area; subsequently, the Grants Department is now approximately seventy-five percent (75%) caught up. Mr. Peach also discussed ongoing projects within the department.

Regent Walston asked whether any dormant grants exist which need to be reactivated.

Next, Dr. Burnette invited Dr. Edwards to speak further about the APA audit and where the University currently stands in meeting the APA’s recommendations. Dr. Edwards reported that 56% of the 90 recommendations have been initiated, 26% have been completed, and 18% are currently under discussion with the responsible parties. He also noted that an issue tracker is being developed. Dr. Edwards stated that further information would be provided at the next Board meeting.

Dr. Edwards estimated that as a result of the MIP and APA audit findings, over one hundred (100) new policies and procedures would be generated and anticipated those policies and procedures