KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Finance Committee and Audit Committee April 23, 2015 10:30 am to Noon lian M. Carroll Academic Services Building, Board Room Frankfort, Kentucky

At our last Board meeting I was just newly appointed to take on additional responsibilities for the University by the President. I can say immediately that 3 months later with the snow and the 18 below temperatures we experienced this past winter, it has been most interesting. First I have some key items that were spoken to in our last meeting I'd like to bring to your attention.

In our last meeting I stated we would stretch ourselves to finish physical inventory by March, no later than early May.....we will finish in April.

Our Bursar's Office was the focus of many of the issues associated with student accounts administration before and after enrollment. Since that time we have had an all-day Best Practice visit at Eastern Kentucky, our office associates have re-read our Bursar's office procedures as a training and re-training document, previous Bursar office employees conducted training for our newer employees, we adopted daily morning meetings for problem and issues discussions, started daily defect tracking and totaling number of phone calls per month starting in February. A significant takeaway from Eastern Kentucky was that the Bursar has been in place for 12 years and is primarily responsible for re-engineering their current Bursar office processes. Another is that they have dedicated staffing vs cross trained. We also have an open invitation with names and contacts for issues with Banner and office issues if necessary. Regardless of all of these positive activities, we continue to have situations come about wherein we are challenged with major discovery. Classic example is a direct account extraction software update that we missed because our provider, TouchNet, sent a formal notice of the need for us to update our software via an email address with no confirmation of receipt vs sending directly to the Bursar's attention. This issue left us with inaccurate student accounts and put us approximately 2 months behind in our collections after we adjusted the 1 year PIO's to an 8 month PIO schedule. Given this issue and other issues with inconsistency in AP notifications to our students we made the decision to switch previous Bursar back to that process to minimize the discovery and lack of tracking of activities. We can't afford a learning curve in that office now.

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