KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Finance Committee and Audit Committee April 23, 2015 10:30 am to 12:00 pm Julian M. Carroll Academic Services Building, Board Room Frankfort, Kentucky

MINUTES *****

Regent LaVaughn Henry, Chairperson, called the Finance Committee and Audit Committee meeting of the Kentucky State University Board of Regents to order at 10:30 a.m. on April 23, 2015. Regent Henry asked the secretary to call roll:

Charles Whitehead Present

LaVaughn Henry Present David Guarnieri Present Syamala Reddy Not Present Mindy Barfield Not Present

Karen Bearden Present

Travis Haskins Present

Elaine Farris Not Present

A quorum was not declared.

I. Approval of Minutes

Action: Motion to approve the minutes from the October 24, 2014 and January 22, 2015 Finance and Audit Committee meeting was made by Regent Bearden and seconded by Regent Guarnieri. The minutes stand approved as submitted.

Regent Henry recognized Mr. Pinkard to carry the discussion forward.

II. Vice President's Report

Inventory

Vice President Pinkard reported physical inventory would be done per schedule. Regent Guarnieri and Regent Henry asked Vice President Pinkard to give notice of anything missing over $50,000 in June. Regent Whitehead asked about a depreciation budget. President Burse stated we do not fund depreciation. Regent Bearden inquired about cameras for security purposes. Vice President Pinkard confirmed we have cameras.

Student Enrollment and Account Management

Vice President Pinkard reported visiting EKU Bursar's office as a Best Practice sharing and training for all KSU Bursar office personnel. Our Standard Processes are being evaluated. He stated the office is focused on weekly monitoring of all customer

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