Banner Implementation:
Eric Bergquist, CIO, provided an overview of the Banner system and its functionality. According to Mr. Bergquist, Banner is broken and needs to be fixed. After questions, Mr. Bergquist stated that the previous administration was not receptive to his previous recommendations. Mr. Bergquist recommended a two-year re-installation of banner and a data cleansing process. Also, employees will be re-trained on the Banner modules. Mr. Bergquist also provided a written report.
University Financial Update:
Anita Lockridge, Chief Financial Officer, provided an overview of the 2014-15 budget. KSU's budget is $53 million, excluding federal grants.
Approximately $1.6 million of projected revenue was lost based upon decreased student enrollment. Some of the projected revenue shortfall may be recouped. There is also approximately $226,018 in pending aid yet to be drawn down as revenue.
She provided updates on the actual amounts spent versus the budgeted amounts. She explained that there is a projected $6.1 million shortfall. She also provided a written report.
VII. Closed Session:
Action: Motion was made to convene a closed session to discuss personnel matters, pending litigation and property acquisition pursuant to the Kentucky Open Meetings Act. The motion was made by Regent Reddy and seconded by Regent Haskins. The motion passed, 9-0.
The Board discussed pending litigation, property acquisition and personnel matters. The Board took no action in Closed Session.
The Board reconvened in Open Session.
IX. Open Session:
Chair Bearden stated that the “Board wished to thank Interim President Raymond Burse for his leadership. We recognize his appropriate, necessary and significant efforts. He has the support of the Board of Regents to continue strengthening the institution.”
X. Adjournment:
Action: Motion was made by Regent Farris and seconded by Regent Haskins. The motion passed 9-0.
The meeting adjourned at 5:00 p.m.
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