KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Audit Committee April 21, 2016 1:00 p.m. Cooperative Extension Building Conference Room Frankfort, Kentucky
MINUTES *****
Regent Mindy Barfield, Chairperson, called the meeting of the Audit Committee of the Kentucky State University Board of Regents to order at 1:05 p.m. on April 21, 2016. Regent Barfield asked the secretary to call the roll:
Mindy Barfield Present Hettie Oldham Present Karen Bearden Present David Guarnieri Present
A quorum was declared.
I. Approval of Minutes
Action: Motion to approve the minutes from the January 21, 2016 Audit Committee was made by Regent Bearden and seconded by Regent Guarnieri. The motion was approved unanimously.
Regent Guarnieri recognized Mr. Rush to carry the discussion forward.
II. Vice President's Report
Acceptance of 2014-2015 Single Audit Reports Under OBM Circular A-133
Vice President Rush stated at the last Board meeting Crissy Fiscus with Dean Dorton Allen Ford presented a draft of the A-133. He stated the only change in the report was that there was a finding related to Perkins Loans. Management's response to the finding was to train staff and create procedures to make certain entrance counseling is done properly. He stated entrance counseling had been provided but not properly documented.
Action: Motion to approve the 2014-2015 Single Audit Reports Under OMB A-133 as amended was made by Regent Bearden and seconded by Regent Guarnieri. The motion was approved unanimously.
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