Police. Attorney Rowe stated the University is looking at ways to protect employees' information from a technological perspective that would prevent someone from sending similar information without an internal review. Regent Oldham inquired of the financial impact this had on the University. President Burse stated the original projected cost for Experian was between $65,000 and $66,000. Attorney Rowe stated the University will pay for about 300 additional employees' spouses.

Assistant Vice President Paul Edwards gave an overview of the financial statements. He stated that cash has decreased $6.1MM since this time last year particularly due to an increase of $1MM in Accounts Receivables and the decrease of $2.1MM in Accounts Payables. He stated both of these factors will cause a decrease in cash. Assistant Vice President Edwards also stated that cash is lower than last year due to timing with grants expenditures and drawdowns and the fact that we have a lower dollar amount of grant expenditures to this point in the year as compared to this time last year. Assistant Vice President Edwards stated student tuition and fees, residence halls and dining revenue are less than the prior year due to a decrease in enrollment. Assistant Vice President Edwards stated the investment income is lower than this time last year by $1.5MM. This decrease is a reflection of unrealized losses as a result in shifts in market values of the University's currently held investments.

The meeting adjourned at 2:24 p.m.

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