Dr. Bennett reported that KSU's housing deposit of $310 is one of the highest in the state. Regent Lysonge raised an issue regarding the housing deposit being lowered.
No Board action was taken on the Student Affairs Report.
Curtis Creagh, Vice President for Business Affairs, reported to the Board, with Paul Edwards, Assistant Vice President, on various financial issues. Mr. Creagh presented current financials to the Board. Edwards discussed the Statement of Net Position. He stated that Accounts Receivable was reduced by $7.1 million during the same time period in the previous year. He also reported that Grants Receivable was reduced $2.7 million, while Student Accounts Receivable was reduced by $4.4 million.
President Burse stated that for FY 2015, the University had an operating deficit of approximately $5.8 million. He commented that bad debt is up and if it were taken out, the deficit would be substantially less.
President Burse also stated that total student debt is about $13.1 million and approximately $1.0 million is being actively collected by two collection agencies. The collection fees for those agencies are 25% to 33 1/3% of the amounts collected.
Mr. Creagh also provided a report to the Board on personnel in the Human Resources Department showing background and qualifications of the Human Resources team.
Mr. Creagh also stated that he is evaluating the operational efficiency of the Human Resources Department. Mr. Creagh stated that no supervisory skills training is currently available but he hopes to implement such training in the near future.
In response to questions from Regent Whitehead and Chairperson Bearden, President Burse stated that the University needs to do more in the area of training. Persons involved on search committees will have to be trained better in the future to make searches more consistent and productive. President Burse stated that a training officer is needed but currently no such person is employed by the University. He is also looking for ways to make the Human Resources Department more efficient.
Regent McFayden commented that Chairs of Academic Departments could do better in searches. President Burse stated that he has instructed Academic Affairs to identify permanent Chairs of Departments and provide them with appropriate training to run their departments. Chairperson Bearden stated that
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