MINUTES
Kentucky State University Finance and Business and Audit Committee Joint Meeting Board of Regents Finance and Business Committee – Audit Committee 11:30a.m., June 4, 2012 Frankfort, Kentucky
I. Call to Order
Regent Whitehead called the meeting to order at 11:31 a.m. on June 4, 2012.
II. Roll Call
Regent Whitehead asked for the roll call, which was recorded as follows:
Regent David Guarnieri, absent
Regent Chuck Whitehead, present
Regent Ron Banks, present
Regent Mindy Barfield, absent
Regent Karen Bearden, present
Regent Syamala Reddy, absent
Regent Phyllis Williams, absent
Regent Lavaughn Henry, present
Mrs. Johnson, present
A quorum was declared.
III. Approval of Minutes
Action: Motion to approve the minutes from the April 27, 2012 Finance and Business Committee and Audit Committee meeting was made by Regent Whitehead. The minutes were approved as presented. Regent Whitehead recognized Mrs. Johnson to carry the discussion forward.
IV. Vice President's Report
Fiscal 2013 Financial Plan
Vice President Johnson gave an overview of the FY2013 Financial Plan. She stated that due to a deficit that had to be addressed, the Financial Plan was reexamined. She also stated that a lot of scrutiny was applied to several items in the budget in order to present to the Board a balanced budget.