Regent Harnice asked how many students are in hotels in a non-COVID year and President Brown stated that in a normal year, 127 students are in hotels and there are 866 useable beds on campus. Regent Harnice also inquired about the projected number of summer school students who may occupy the dorms and President Brown responded that the projection is around 400 students. Regent Harnice expressed concerns that students would not want to live in the new dorms if they are more expensive. Regent Reynolds pointed out that the new dorms will be more enticing for students and their parents. President Brown stated the cost of the dorms is actually less than the market rate for off-campus housing and that financial aid packages cover the cost of first year housing for students who are Pell Grant eligible.
Regent Farris asked about the impact on the hotel bill once the new dorms are online. Douglas R. Allen II, Executive Vice President for Finance and Administration and CFO, confirmed that KSU will be decreasing costs due to being able to house students on campus as opposed to using hotels.
MOTION by Regent Harnice:
Move the Committee to approve the contracts with Best Western, Parkside Inn, Capital Plaza Hotel, Hampton Inn, and Holiday Inn Express for auxiliary student housing.
Seconded by Regent Reynolds and passed without dissent.
MOTION by Regent Harnice:
Move the Committee to approve Revised Staff Leave Accrual Policy.
Seconded by Regent Reynolds and passed with dissent.
MOTION by Regent Harnice:
Move the Committee to approve the contract extension for Wild Health, LLC.
Seconded by Regent Farris and passed with dissent.
Information Item(s)
EVP Allen updated the Committee on the FY 2020 Audit. (Discussion of this item had been moved from the Executive and Audit Committee due to the fact that no there was no other business in the Executive and Audit Committee). EVP Allen stated that KSU’s audit is complete except for the CARES Act compliance audit from the federal government and the KSU Foundation Audit. However, the draft audit, without this information, will be provided to the state controller in an abundance of caution. EVP Allen stated that KSU’s auditors should be able to complete the work in one to two weeks once the external information is received.
During the Quarterly Budget Update and Quarter Facilities Updates, EVP Allen reported that KSU is operating at $359,000 under budget. There are some areas that are favorable to budget and some that are unfavorable. He also stated that the renovations to Hunter Hall, which are federally funded, will be bid in January of 2021.
MOTION by Regent Reynolds:
Move the Committee to adjourn.
Seconded by Regent Farris and passed without dissent.
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