We proposed the following three-year rotation plan as a result of our initial risk assessment reported to the audit committee on July 27, 2012. We find no reason to deviate from this rotation plan at this time:

Transaction Cycle/Area Fiscal 2012-2013 Fiscal 2013-2014 Fiscal 2014-2015

General Control Environment (GC) X

Student Financial Aid (SFA) X X X

Land and Other Grants (G) X X X

Capital Assets (CA) X

Information Technology (IT) X

Purchasing, Accounts Payable, and Disbursements (PA) X

Payroll and Personnel (PP) X X

Financial Reporting (FR) X

Travel & Entertainment (T&E) X X X

Auxiliary Enterprises (AE) X