Chairperson Laura Douglas called the special meeting of the Kentucky State University Board of Regents to order at 10:05 a.m. on November 5, 2010.
Chairperson Douglas asked the Secretary to the President to conduct the roll call:
Regent Banks, Present
Regent Barfield, Absent
Regent Bearden, Present
Regent Conner, Present
Regent Douglas, Present
Regent Fuller, Present
Regent Guarnieri, Present
Regent James, Absent
Regent Reddy, Absent
Regent Whitehead, Present
Regent Williams, Absent
Seven Regents were in attendance. A quorum was declared.
Chairperson Douglas began by reminding the Board that it would be reviewing the Audit results and taking formal action on the audit during this meeting.
Finance and Administration:
Ms. Alice Bursey Johnson, Vice President Finance and Business Affairs, presented information about the External Audit report. Ms. Johnson introduced Mr. Doug Allen, Auditor with Crowe Horwath, to provide preliminary findings of the financial audit, including, Circular A1-33, the review of KSU federal, state and local grants and awards.
Mr. Allen stated that Crowe Horwath issued an unqualified opinion regarding KSU's financial statements, the highest opinion that an entity can receive on its financial statements.