Kentucky State University
Finance and Business Committee Meeting
January 28, 2011
Finance and Business (F&B) is pleased to present the following summary report for consideration at the quarterly Finance and Business Committee meeting of the Board of Regents.
Fiscal Year 2010 Audit Review.
Audit results will be analyzed detailing financial component changes in FY2010 vs FY2009.
Fiscal Year 2011 Interim Results as of December 2010. Reports for Budget vs. Actual and Condensed Financial Statements are included:
Budget vs. Actual as of December 2010 is presented for information along with comments about the variances.
Unaudited Financial Statements as of December 2010 are included for the statement of net assets, the statement of revenue, expenses and changes in net assets and the statement of cash flows.
Staff Changes. Ms. Corlia Logsdon, who was hired in September 2010 as the Assistant Director of Human Resources for Disability Services, has initiated a campus wide review of facility access as well as a thorough review of existing policy and procedure addressing both student and staff needs. Policy recommendations will be forthcoming.
Mr. Douglas Allen was hired in November 2010 as the Director of Accounting Services.
Banner Conversion. Banner system is now live. Go live date was January 1, 2011. All team members have prepared, validated and tested data and processes.