Regent Hatchett observed that rebalancing is always a difficult decision and requested that all bidders under the new RFP be required to explain how their approach to rebalancing will benefit, not harm, the University. Chair Moyer stated this was an excellent idea.

Regent Adams sought clarification as to the Committee’s role and processes for hearing presentations from RFP candidates and making a final recommendation to the Board.

This agenda item was presented by Dr. Wendy Dixie, Interim VP, Finance & Business Affairs and Ms. Frances Pinkston, Director of Purchasing. Dr. Dixie introduced Ms. Pinkston, who began the presentation with a discussion of an RFP schedule of events/calendar regarding banking and investments. Ms. Pinkston then opened the floor for questions.

Chair Moyer stated that he had not thought about combining a banking RFP and investment RFP and stated he did not think it was a good strategy to have these services performed by the same entity. Following a discussion, Chair Moyer recommended having separate RFPs and noted that if someone wanted to bid on both, that would not be prohibited. Regent Dukes, Regent Hatchett, and Regent Adams concurred.

Ms. Pinkston responded that this was not a problem and that she would move ahead with maintaining two separate pathways that would progress concurrently.

Regent Adams inquired into the status of KSU's current relationship with Park Community and requested that a financial literacy component for students be included in the banking RFP. Chair Moyer and Regent Hatchett expressed strong support for this idea.

Next, Ms. Pinkston provided a brief update regarding other current and upcoming RFPs.

Regent Dukes sought clarification in reference to the external auditor RFP. Ms. Pinkston and President Akakpo provided further insight and a discussion ensued.

Chair Moyer thanked Dr. Dixie and Ms. Pinkston for their presentation.

Chair Moyer presented this agenda item to inform the Committee of future agenda topics that he would like to address and then requested their input. He anticipated that the next Committee meeting will focus upon University advancement unless issues arose regarding the Foundation.

Regent Dukes expressed her support for the future agenda topics and inquired into the possibility of meeting with the Foundation outside of the Committee’s regular meeting schedule. General Counsel Atwell responded that a special called meeting could be held to allow the Committee to meet with the Foundation.