Kentucky State University Finance and Business Committee Meeting October 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 2012 Interim Results. For fiscal 2012, the interim results are being modified in accordance with reporting solutions incorporated under the Banner system implementation.
• Budget vs. Actual as of September 2011 is presented for information along with comments about the variances.
• Unaudited Financial Statements (Statement of Net Assets, Statement of Revenues, Expenses and Changes in Net Assets and Statement of Cash Flows) in the GASB format are being developed. November will be the first month when interim financial statements are prepared. A source of cash for July – September 2011 is presented.
• Fiscal Year 2011 Audit Update. An update on the June 30, 2011 audit will be provided at the meeting.