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## Kentucky State University Board of Regents Meeting

## Board of Regents Meeting

## Audit Committee

October 25, 2013

Regent Mindy Barfield, Chairperson

Regent Karen Bearden

Regent David Guarnieri

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KENTUCKY STATE UNIVERSITY

Regular Meeting of the

Board of Regents

Audit Committee

October 25, 2013

11:00 am to 11:30 am

rd Room – Academic Services Building

## AGENDA


<table border=1 style='margin: auto; word-wrap: break-word;'><tr><td style='text-align: center; word-wrap: break-word;'>I.</td><td style='text-align: center; word-wrap: break-word;'>Call to Order</td><td style='text-align: center; word-wrap: break-word;'>Regent Mindy Barfield, Chairperson</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>II.</td><td style='text-align: center; word-wrap: break-word;'>Roll Call</td><td style='text-align: center; word-wrap: break-word;'>Sonia Sanders,</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>III.</td><td style='text-align: center; word-wrap: break-word;'>Opening Remarks</td><td style='text-align: center; word-wrap: break-word;'>Regent Mindy Barfield</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>IV.</td><td style='text-align: center; word-wrap: break-word;'>Approval of Minutes</td><td style='text-align: center; word-wrap: break-word;'>Regent Mindy Barfield</td></tr></table>

V. Report

VI. Discussion

Mark Ferm, Internal Auditor

VII. Adjournment

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## Agenda Item Background


<table border=1 style='margin: auto; word-wrap: break-word;'><tr><td style='text-align: center; word-wrap: break-word;'>To:</td><td style='text-align: center; word-wrap: break-word;'>Board of Regents
Audit Committee</td><td style='text-align: center; word-wrap: break-word;'>Date:
October 25, 2013</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>From:</td><td style='text-align: center; word-wrap: break-word;'>Regent Mindy Barfield, Chairperson
Audit Committee</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>Subject:</td><td style='text-align: center; word-wrap: break-word;'>July 26, 2013 Committee Minutes</td><td style='text-align: center; word-wrap: break-word;'></td></tr><tr><td style='text-align: center; word-wrap: break-word;'>Reason for Consideration:</td><td style='text-align: center; word-wrap: break-word;'>Approval</td><td style='text-align: center; word-wrap: break-word;'>Enclosures: Yes</td></tr></table>

## Background:

The minutes of the Audit Committee meeting for July 26, 2013, require approval in order to become an official part of the committee records.

## Recommendation:

It is recommended that the Audit Committee approve the minutes of the July 26, 2013 meeting.

<div style="text-align: center;">Approval</div>



<table border=1 style='margin: auto; word-wrap: break-word;'><tr><td style='text-align: center; word-wrap: break-word;'>Initiator:</td><td style='text-align: center; word-wrap: break-word;'>Regent Mindy Barfield</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>Board Action Date:</td><td style='text-align: center; word-wrap: break-word;'>October 25, 2013</td></tr><tr><td style='text-align: center; word-wrap: break-word;'>Effective Date:</td><td style='text-align: center; word-wrap: break-word;'>October 25, 2013</td></tr></table>

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# Audit Committee July 26, 2013 12:00 Noon Board Room – Academic Services Building

# MINUTES

## Call to Order

Regent Barfield called the meeting of the Kentucky State University Board of Regents Audit Committee to order at 12:15 pm on July 26, 2013

## Roll Call

Regent Barfield-Yes

Regent-Bearden-Yes

Regent-Reddy-Yes

Regent-Williams-Yes

Quorum Established: Yes

## Approval of Minutes

October 26, 2012 – moved to accept by Regent Bearden, seconded by Regent Williams-passed January 25, 2013 – moved to accept by Regent Reddy, seconded by Regent Williams – passed April 26, 2013 – moved to accept by Regent Bearden, seconded by Regent Williams - passed

## Opening Remarks

Regent Barfield welcomed the Audit committee and Mark Ferm, Internal Auditor from Tronconi Segarra & Associates.

DISCUSSION: Mr. Ferm presented areas of discussion for the 2012-2013 audit which will be completed by the end of July 2013. Regent Reddy and Regent Barfield requested information regarding disaster recovery and financial aid. Mr. Ferm presented the 2013-2014 audit plan. Dr. Sias and Regent Barfield thanked Mr. Ferm for his work with KSU and the audit.

### VII. Adjournment

Action:

Motion to adjourn by Regent Williams and seconded by Regent Bearden

Meeting was adjourned at 12:28 p.m.



Submitted and Approved by:

Regent Mindy Barfield, Chair

Internal Audit Committee

Approved with no corrections

Board of Regents



___ Approved with corrections