B2
KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Academic Affairs Committee April 25, 2014 10:00 am to 10:45 am Board Room – Academic Services Building Frankfort, Kentucky
Fiscal 2013 Budget vs. Actual and Financial Statements (unaudited)
For Fiscal 2013, planned budget results and unaudited comparative financials are presented in item B3 as of February 28, 2014.
Audit Update
Tronconi Segarra & Associates was on-site March 24-27 to review Accounts Payable, Purchasing, Travel and Investments.
A pre-planning meeting with Dean|Dorton|Allen|Ford was conducted. They will return on the following dates:
April 23rd for A/R reserve review
Week of April 28th for Fall 2013 Financial Aid testing and walkthrough
June 23rd for Spring 2014 Financial Aid testing and Grants testing (through 3/31/14) and to discuss other testing that can be done in advance of year-end.
Budget Planning
A preliminary budget will be presented.
Kentucky Council on Postsecondary Education
On November 7, 2013, the Council adopted a resolution directing the council President to establish a working group for the purpose of developing a comprehensive model for the allocation of state General Fund appropriations for institutional operations that incorporated element of campus performance, mission, and enrollment for implementation in the 2016-18 biennial budget recommendation.
On April 2, 2014, the first meeting of the Funding Model Steering Committee was held by CPE. Coordinating and governing board staff from three states presented to the meeting participants their experience with adopting a new funding approach in their state, the components of the approach, and the observed or anticipated impacts of the model on institutional behavior. These meetings will be the first of many to come over the next year.
Enrolled Students
On March 28th, the Bursar's Office made contact with the current enrolled student who has an outstanding balance on their account to remind them of the financial requirements to return to the University in the Fall. A letter, personal statement of account and the KSU Student Balance Required Payment Schedule brochure was sent to the student address on file and a message was sent to their KYSU email account.