Kentucky State University Regular Finance and Business Committee Meeting Board of Regents Finance and Business Committee 9:45a.m., July 22, 2011 Frankfort, Kentucky

Regent Whitehead called the meeting to order at 9:45 a.m. on July 22, 2011.

There was no roll call. Committee members present were as follows:

Regent Wilbert James, absent

Regent David Guarnieri, absent

Regent Chuck Whitehead, present

Regent Ron Banks, present

Mrs. Johnson, present

A quorum was not declared.

Regent Douglas stated that due to not having a quorum items on the agenda for approval would be discussed at the full Board meeting.

Regent Whitehead recognized Mrs. Johnson to carry the discussion forward.

Executive Summary Narrative

Vice President Johnson gave an overview of the Executive Summary Narrative. Copies of the June 30, 2011 Unaudited Financial Statements and the June 2011 Budget vs. Actual were distributed to the Finance and Business Committee and members of the Cabinet.

Gary Meiseles, Director of Human Resources Services informed the committee that the HR department would be embarking on a thorough and comprehensive review of the university's employee benefits package.