===== PAGE 1 ===== # Kentucky State University Board of Regents Meeting # Finance and Business Committee July 26, 2013 Regent Lavaughn Henry, Chairperson Regent David Guarnieri Regent Syamala Reddy Regent Charles Whitehead Ms. Anita Lockridge, Staff ===== PAGE 2 ===== # KENTUCKY STATE UNIVERSITY Regular Meeting of the Board of Regents Finance and Business Committee July 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky ## FINANCE AND BUSINESS MEETING INDEX B1 Minutes of April 26, 2013 Meeting 4 B2 Executive Summary Information 7 B3 Action Item: Approval of Policy Update 11 B4 Action Item: Approval of FY2014 Budget Tuition & Mandatory Fee Increase 12 B5 Action Item: Approval of Tuition Rate Chart for Rosenwald Center for Families and Children 13 B6 Fiscal Year 2013 Budget vs. Actual 15 B7 Fiscal Year 2013 Financials (unaudited) 18 B8 Human Resource Service Report 26 ===== PAGE 3 ===== # Finance and Business Committee July 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky ## AGENDA I. Call to Order Regent Lavaughn Henry, Chairperson II. Roll Call Ms. Lillian Graham III. Opening Remarks Regent Lavaughn Henry IV. Approval of Minutes Regent Lavaughn Henry April 26, 2013 Meeting Executive Summary Report Ms. Anita Lockridge, Vice President Finance Administration VI. Action Item: • Approval of Personnel Policy Update - Approval of FY 2014 Budget Tuition and Fee Increase - Approval of Tuition Rates for Rosenwald Ctr. For Families and Children VII. Informational Items: • FY 2013 Budget vs. Actual • FY 2013 Financial Statements (unaudited) • Human Resource Services Report VIII. Discussion IX. Adjournment ===== PAGE 4 =====
Agenda Item Background
To:Board of Regents Finance and Business Affairs CommitteeDate: July 26, 2013
From:Ms. Anita Lockridge Vice President for Finance Administration
Subject:April 26, 2013 Committee Minutes
Reason for Consideration:ApprovalEnclosures: Yes
## Background: The minutes of the Finance and Business Affairs Committee meeting for April 26, 2013, require approval in order to become an official part of the committee records. ## Recommendation: It is recommended that the Finance Administration Affairs Committee approve the minutes of the April 26, 2013 meeting.
Approval
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
===== PAGE 5 ===== # Kentucky State University Board of Regents Finance and Business Committee 10:00a.m., April 26, 2013 Frankfort, Kentucky # MINUTES ### I. Call to Order Regent Henry called the meeting to order at 10:17a.m. on April 26, 2013. ### II. Roll Call Regent Henry asked for the roll call, which was recorded as follows: Regent Lavaughn Henry, present Regent Ron Banks, present Regent David Guarnieri, present Regent Syamala Reddy, absent Regent Chuck Whitehead, present Mrs. Lockridge, present A quorum was declared. ### III. Approval of Minutes Action: Motion to approve the minutes from the January 25, 2013 Finance and Business Committee meeting was made by Regent Guarnieri and seconded by Regent Whitehead. The minutes stand as approved as presented. Regent Henry recognized Mrs. Lockridge to carry the discussion forward. ### IV. Vice President's Report ## Financial Overview Vice President Lockridge gave an overview of the Executive Summary Narrative and reviewed the financial statements including the Budget vs Actual for the nine months ending March 31, 2013. The committee was informed that the external auditors from Dean|Dorton|Allen|Ford were on campus during the week of April 15th to begin the year-end audit work. ## Budgeting Process-Employee Benefits Vice President Lockridge stated that leading up to the Financial Plan there is a lot of work and conversation that goes into budget planning. A short presentation was presented which included the Employee Benefits Advisory Committee's (EBAC) role in the budget process. Lockridge made note that Neace Lukens had meet with the staff to present information on the Affordable Health Care Act and Healthcare Claims Utilization for the past year. Vice President Lockridge presented an overview of the employee ===== PAGE 6 ===== benefits for FY14. An update was given on the Pay or Play which is part of the Affordable Health Plan and it was noted that the university has an affordable plan. ## Resource Services Mrs. Candace Raglin, Human Resource Manager, gave an update on several value added services that United Healthcare is providing; Wellness Program, Biometric Screening Fall of 2013, MyHealthcare Cost Estimator and Health 4 Me (App). ## FY2014 Financial Plan Vice President Lockridge showcased the participants that assisted in the building of the budget under the leadership of President Sias. Lockridge presented the Budget proposal for Fiscal Year 2013-2014. A recommendation was made to increase tuition and mandatory fees, board plan fees and other fees. Action: Motion to approve the F☐201☐ budget as presented was made by Regent Whitehead and seconded by Regents Banks. The motion passed. ### V. Adournment The Finance and Business committee meeting was adjourned at 10:58am. Submitted by: Approved by: ___ Approved with no corrections _____ Approved with corrections ===== PAGE 7 ===== Finance and Business Committee July 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky Agenda Item Background
To:Board of Regents Finance and BusinessDate: July 26, 2013
From:Ms. Anita Lockridge, Vice President for Finance Administration
Subject:Executive Summary
Reason for Consideration:InformationalEnclosures: Yes
Background: Recommendation:
Informational
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
===== PAGE 8 ===== KENTUCKY STATE UNIVERSITY BOARD OF REGENTS Report to the Finance and Business Committee Anita Lockridge Vice President for Finance Administration July 26, 2013 ===== PAGE 9 ===== ### Fiscal 2013 Budget vs. Actual For Fiscal 2013, planned budget results are presented in item B5 as of May 31, 2013. ## Fiscal 2013 Financial Statements (unaudited) For Fiscal 2013, unaudited comparative financials are presented in item B6 as of May 31, 2013. ## Fiscal 2013 Audit Dean|Dorton|Allen|Ford began the interim audit work the week of April 15th; returned June 17th for additional testing and will return August 5th to complete the field work. ## NCAA Report Dean|Dorton|Allen|Ford issued the final report for the agreed upon procedures. ## Internal Audit Tronconi Segarra & Associates was on-site the week of June 10th to perform general controls reviews in the areas of Purchasing, Accounts Payable Human Resources and Student Financial Aid. ## Perkins Loan Program As of June 30, 2013, the cohort default rate is 13.5%. The rate is below the 15% threshold. ## Insurance Renewal The renewal of insurance coverage for the university with an effective date of July 1 was completed. In addition, a policy was secured for the newly acquired research vessel referred to as Kentucky River Thorbred. ## TouchNet Project The university acquired additional use of rights from TouchNet for the Payment Gateway Suite and Payment Plan. Implementation is currently underway. ## Other Ellucian was engaged to provide training for the Finance team. The Vice-President of Finance Administration has partnered with the School of Business to implement an Accounting internship program. ===== PAGE 10 =====
Agenda Item Background
To:Board of Regents Finance and Business CommitteeDate: July 26, 2013
From:Ms. Anita Lockridge Vice President for Finance Administration
Subject:Revision to Staff Personnel Policy and Procedure Number 6.0
Reason for Consideration:Action ItemEnclosures: Yes
## Background: Background: Human Resource Services has initiated and continued several significant projects for the University as described below: 1. A revision to the Grievance Policy and Procedure is presented for consideration of the Board of Regents. The following changes are proposed: remove Section 6.2.4.1.1 which provides an employee the opportunity to request a formal hearing before a Grievance Hearing Committee based upon “A charge of unfair employment termination.” While this is the only substantive change, if approved the removal of section 6.2.4.1.1 will necessitate the renumbering of items currently numbered 6.2.4.1.2 and 6.2.4.1.3. The policy is provided as an attachment with the proposed changes indicated. ## Recommendation: Approval of revision to Staff Personnel Policy and Procedure Number 6.0
Approval
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
===== PAGE 11 =====
Agenda Item Background
To:Board of Regents Finance and BusinessDate: July 26, 2013
From:Ms. Anita Lockridge, Vice President for Finance Administration
Subject:FY2014 Budget-Tuition & Fees Increase
Reason for Consideration:Action ItemEnclosures: Yes
## Background: Technical Correction – At the Board of Regents April 26, 2013 meeting, the stated increase in tuition and mandatory fees was noted as 2.9% instead of 2.95%. ## Recommendation: Amend the motion for the Board of Regents to approve the FY2014 budget with a 2.95% increase in tuition and mandatory fees.
Informational
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
===== PAGE 12 =====
Agenda Item Background
To:Board of Regents Finance and BusinessDate: July 26, 2013
From:Ms. Anita Lockridge, Vice President for Finance Administration
Subject:Rosenwald Center for Families and Children Tuition Rate Chart
Reason for Consideration:Action ItemEnclosures: Yes
## Background: Tuition Rate Chart for Rosenwald Center for Families and Children ## Recommendation: Approval of the FY2014 Tuition Rate Chart for Rosenwald Center for Families and Children.
Informational
Initiator:Ms. Anita Lockridge Vice President for Finance Administration
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
Page _____ ===== PAGE 13 ===== ## Kentucky State University Tuition Rate Chart - Rosenwald Center for Families and Children FY 2014
Full Tuition PriceInfants$180
Toddlers$160
Preschool$160
After school$65
Summer Program$140
Student RateInfants$120
Toddlers$120
Preschool$105
After school$60
Summer Program$100
===== PAGE 14 =====
Agenda Item Background
To:Board of Regents\nFinance and BusinessDate:\nJuly 26, 2013
From:Ms. Anita Lockridge, Vice President for\nFinance Administration
Subject:Preliminary Unaudited Budget vs.\nActual Report for the 11 months ending\nMay 31, 2013
Reason for\nConsideration:InformationalEnclosures: Yes
## Background: The Budget vs. Actual Report presents the revenue and expenses for the Educational and General Fund (E&G), Auxiliary Fund, as well as Land Grant and Action Agenda Funds. Grants and contract revenue and expenses are excluded from this report. ## Overview: After the student enrollment count was obtained for the Fall and Spring semesters, management adjusted the E&G budget to reflect the decline in enrollment. Overall all budgeted revenue was decreased by 7.9% for anticipated revenue of $56.9 million, and budgeted expenses were decreased by 9% for projected expenses of $53.1 million. For the eleven months ending May 31, 2013, actual results are within acceptable parameters. ## Revenue: There was a decline in Auxiliary actual revenues due to less than expected occupancy. ## Expenses: Salaries and associated expenses are in line with the reduction in student enrollment. When vacancies have occurred, positions have been evaluated to determine if the position should be filled. Costs for all but two categories are below budget for the eleven month period ending May 31st. The two areas that exceeded budget are Fixed Costs, which are not driven by student enrollment, and Student Aid, which is a result of the current overall economic environment. ===== PAGE 15 =====
Informational
Initiator:Vickie Dornbusch
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
___ ___ ===== PAGE 16 =====
Approved BudgetRevised BudgetBudget after ReductionYTD Actual ActivityYTD Actual % of Budget after Reduction% ExpiredVarianceYTD ACTUAL BY FUND GROUP
Education & GeneralAuxiliaryLand Grant & Action Agenda
Revenues
State Appropriations23,537,40023,537,40023,537,40023,537,402100.00%91.67%0.00%18,552,59004,984,812
Student Tuition & Mandatory Fees25,975,15625,975,15621,108,79720,536,25897.29%91.67%-2.71%20,536,25800
Auxiliaries7,203,8607,203,8607,203,8606,015,08083.50%91.67%-16.50%(18,893)6,015,08018,893
Other5,129,9005,129,9005,129,9003,273,93863.82%91.67%-36.18%3,248,199025,739
Revenues Total61,846,31661,846,31656,979,95753,362,67893.65%91.67%-6.35%42,318,1556,015,0805,029,443
Expenditures
Salaries/Wages/Benefits35,985,69336,492,43532,440,44025,626,46179.00%91.67%-21.00%22,136,2971,049,2672,440,897
Supplies & Other2,488,0042,580,2842,492,2241,373,34055.11%91.67%-44.89%996,024112,532264,784
Travel1,667,3431,536,8411,588,2201,126,02870.90%91.67%-29.10%984,067764141,197
Communications581,478820,324607,862321,21252.84%91.67%-47.16%311,6587,3782,176
Services9,367,5569,033,5428,478,3826,892,03581.29%91.67%-18.71%3,600,5003,014,207277,327
Interdepartmental383,919387,048394,420(9,973)-2.53%91.67%-102.53%85,710(129,396)33,713
Fixed Costs2,894,9084,288,7223,133,4463,235,001103.24%91.67%3.24%2,145,112985,711104,179
Student Aid4,890,5104,857,8774,890,3105,068,780103.65%91.67%3.65%4,767,231301,5490
Capital96,612(881,618)(904,310)489,800-54.16%91.67%-154.16%186,6361,408301,755
Expenditures Total58,356,02359,115,45553,120,99444,122,68383.06%91.67%-16.94%35,213,2355,343,4193,566,028
Surplus (Deficit) before Transfers3,490,2932,730,8613,858,9639,239,9957,104,920671,6601,463,415
Mandatory & Nonmandatory transfers3,490,2932,730,8643,330,8642,016,23360.53%91.67%-39.47%525,297789,031701,905
Surplus (Deficit)00528,0997,223,7626,579,623(117,371)761,510
===== PAGE 17 ===== # Finance and Business Committee July 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky Agenda Item Background
To:Board of Regents\nFinance and BusinessDate:\nJuly 26, 2013
From:Ms. Anita Lockridge, Vice President for\nFinance Administration
Subject:Preliminary Unaudited Financial\nStatements-\nfor 11 months ending May 31, 2013
Reason for\nConsideration:InformationalEnclosures: Yes
## Background: The comparative Interim Financial Statements are included as of May 31, 2013 and June 30, 2012. A brief summary explanation of certain current assets and plant items follows: 1. Cash and cash equivalents total $26.1 million and $23.8 million for May 2013 and June 2012 respectively. This amount for May 31, 2013 includes $18.5 million that is restricted for Land Grant and Action Agenda programs and $2.7 million that is restricted for plant purposes. The remainder is current operating cash that will be available for current operations during the year. 2. Accounts receivable totaling $14.9 million and $13.9 million for May 2013 and June 2012, respectively, includes the receivables from students, grants and loans. As of May 31, 2013, this amount includes $6.3 million in student accounts receivables, and $8.6 million that is grants and other accounts receivables. 3. Current liabilities for May 31, 2013 and June 30, 2012 amounts to $5.5 million and $8.8 million respectively consisting of accounts payable and accrued payroll liabilities. Accrued compensated absences total $1.9 million and Deferred Revenue totals $1.3 million as of May 31, 2013. 4. As of May 2013, net assets reflect a $7.2 million increase primarily due to an increase in a gain in market value of endowment investment income, increase in net capital assets, decrease in bonds and capital lease obligations, a decrease in accounts payable and accrued liabilities. ===== PAGE 18 ===== 5. Tuition and fee revenue comparison for May 2013 and June 2012 represents a $1.6 million decrease. Net student tuition and fees totals $17.3 million and $18.9 million in May 2013 and June 2012 respectively. 6. Auxiliary revenue comparison for May 2013 and June 2012 represents a decrease of $898 thousand. 7. Operating expenses for May 2013 decreased by $10.8 million compared to operating expenses in June 2012. The decrease was primarily due to decreases in salaries and benefits. 8. The Statement of Cash Flows reflects a net increase of $2.3 million at May 31, 2013. Operations consumed $24.8 million and $32.2 million in May 2013 and June 2012, respectively.
Informational
Initiator:Jessica Peete Senior Financial Analyst
Board Action Date:July 26, 2013
Effective Date:July 26, 2013
===== PAGE 19 =====
Kentucky State University Statement of Net Assets May 31, 2013 (Unaudited)
FY May 2013FY June 2012
ASSETS
Current assets
Cash and cash equivalents26,170,91323,842,721
Accounts, grants and loans receivable, net14,893,77313,941,173
Investments--
Inventory and other current assets118,975511,899
Total current assets41,183,66038,295,793
Noncurrent assets
Accounts, grants and loans receivable, net458,019744,925
Investments13,803,65211,169,649
Capital assets, net82,592,74484,512,241
Total noncurrent assets96,854,41596,426,815
Total assets138,038,075134,722,608
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities1,120,6483,781,912
Accrued compensated absences1,950,7951,730,370
Deferred revenue1,329,9362,211,334
Deposits203,114120,991
Other current liabilities47,873122,183
Bonds and capital lease obligations801,227796,929
Total current liabilities5,453,5938,763,719
Noncurrent liabilities
Bonds and capital lease obligations7,277,5207,875,689
Federal grants refundable991,709991,709
Total noncurrent liabilities8,269,2298,867,398
Total liabilities13,722,82217,631,117
NET ASSETS
Invested in capital assets, net of related debt74,513,99775,839,623
Restricted
Nonexpendable12,340,2788,657,506
Expendable11,711,0166,668,365
Unrestricted25,749,96225,925,997
Total net assets124,315,253117,091,491
===== PAGE 20 =====
Kentucky State University Addendum to Statement of Net Assets Components of Fund Balances - Disaggregated
June 302012ActualYTD ActivityMay 312013
Invested in Capital Assets, net of related debt75,839,623(1,325,626)74,513,997
Restricted - Nonexpendable:
Endowments8,657,5063,682,77212,340,278
Expendable:
Grants & Contracts(474,305)1,102,530628,226
Endowments1,050,1612,885,0663,935,227
Plant Renewal & Replacement5,232,8521,243,0816,475,933
Capital Renewal Reserves859,656(188,026)671,630
6,668,3645,042,65111,711,016
Unrestricted:
Education & General5,754,179(245,537)5,508,642
Auxiliary2,865,998(494,284)2,371,714
Land Grant Match17,305,821563,78517,869,606
25,925,998(176,036)25,749,962
Total Net Assets117,091,4917,223,761124,315,253
===== PAGE 21 =====
Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending May 31, 2013 (Unaudited)
FY May 2013FY June 2012
REVENUES
Operating Revenues
Student tuition and fees (gross)21,554,46423,476,538
Less: Scholarship allowances(4,254,798)(4,533,476)
Student tuition and fees (net of scholarships)17,299,66618,943,062
Federal grants and contracts8,028,36510,720,989
Federal appropriations6,089,0633,796,394
State and local grants and contracts1,262,5811,547,004
Auxiliary enterprises
Residence halls2,775,2113,278,362
Dining2,786,1333,261,069
Bookstore140,000152,500
Other auxiliaries239,364146,898
Other operating revenues1,044,4971,653,909
Total operating revenues39,664,88143,500,187
EXPENSES
Operating expenses
Educational and general
Instruction11,072,14614,381,597
Research5,259,1717,668,990
Public service6,351,8786,113,245
Academic support3,081,0264,286,089
Student services6,583,0227,464,907
Institutional support9,153,41512,059,904
Operation and maintenance of plant5,423,4263,297,562
Student aid8,666,0193,297,562
Depreciation3,827,6304,122,855
Auxiliary enterprises
Residence halls1,776,7492,426,878
Dining2,464,9802,896,641
Bookstore--
Other auxiliaries921,271541,047
Depreciation309,442343,800
Total operating expenses64,890,17775,702,373
Operating income (loss)(25,225,296)(32,202,186)
===== PAGE 22 =====
Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending May 31, 2013 (Unaudited)
NONOPERATING REVENUES (EXPENSES)FY May 2013FY June 2012
State appropriations23,645,97324,660,001
Federal Grants and Contracts5,895,2897,373,490
Gifts6,612251,309
Investment income (net of investment expense)1,318,264849,729
Interest on capital asset-related debt(178,813)(373,738)
Other nonoperating revenues (expenses)1,754,458447,119
Net nonoperating revenues32,441,78333,314,462
Income (loss) before other revenues, expenses, gains or losses7,216,4861,005,724
Endowment Gifts7,276106,552
Capital appropriations--
Increase (decrease) in net assets7,223,7621,112,276
Net assets, beginning of year117,091,491115,979,215
Net assets, end of year124,315,253117,091,491
===== PAGE 23 =====
Kentucky State University Statement of Cash Flows Period Ending May 31, 2013 (Unaudited)
FY May 2013FY June 2012
Cash flows from operating activities
Tuition and fees13,598,42618,669,508
Grants and contracts17,677,64611,096,565
Payments to suppliers(21,326,541)(21,787,788)
Payments to employees(32,286,332)(38,395,403)
Student financial aid(9,218,639)(10,068,725)
Loans issued to students126,543(241,777)
Collection of loans issued to students160,363239,465
Auxiliary enterprises:
Residence halls and dining5,561,3446,539,431
Bookstore140,000152,500
Other auxiliaries239,364146,898
Other receipts1,039,3511,428,163
Net cash from operating activities(24,757,540)(32,221,163)
Cash flows from noncapital financing activities
State appropriations23,645,97324,660,001
Federal Grants and Contracts5,895,2897,373,490
Gifts for other than capital purposes13,888251,309
Student organization agency receipts155,427106,552
Student organization agency disbursements(73,304)84,619
Other receipts (payments)1,754,458447,119
Net cash from noncapital financing activities31,391,73032,923,090
Cash flows from capital financing activities
Capital appropriations--
Purchases of capital assets(2,217,575)(5,602,369)
Proceeds from capital debt--
Principal paid on capital debt(593,871)(767,783)
Interest paid on capital debt(178,813)(373,738)
Net cash flows from capital financing activities(2,990,259)(6,743,890)
Cash flows from investing activities
Interest received on investments160,549901,436
Investment expenses(51,948)(51,707)
Proceeds from sale of investments2,873,5123,977,271
Purchases of investments(4,297,851)(4,565,512)
Net cash flows from investing activities(1,315,739)261,488
Net increase (decrease) in cash and cash equivalents2,328,192(5,780,475)
Cash and cash equivalents at beginning of year23,842,72129,623,196
Cash and cash equivalents at end of year26,170,91323,842,721
===== PAGE 24 =====
Kentucky State University Statement of Cash Flows Period Ending May 31, 2013 (Unaudited)
Statement of Cash Flows Period Ending May 31, 2013 (Unaudited)
Reconciliation of net operating loss to net cash from operating activitiesFY May 2013FY June 2012
Operating loss(25,225,296)(32,202,186)
Adjustments to reconcile operating income to net cash from operating activities:
Depreciation expense4,137,0724,466,655
Bad debt expense-2,746,807
Loss on disposal of capital assets--
Changes in assets and liabilities:
Receivables, net(240,446)(8,281,565)
Inventory and prepaid expenses(32,323)(147,973)
Accounts payable and accrued liabilities(2,661,265)1,571,335
Accrued compensated absences220,425(400,649)
Other Liabilities(74,310)(38,914)
Deferred revenue(881,397)65,327
Net cash from operating activities(24,757,540)(32,221,163)
===== PAGE 25 ===== Finance and Business Committee July 26, 2013 10:00 a.m. Board Room – Academic Services Building Frankfort, Kentucky Agenda Item Background
To:Board of Regents Finance and Business CommitteeDate: July 26, 2013
From:Ms. Anita Lockridge, Vice President for Finance Administration
Subject:Human Resources Update
Reason for Consideration:InformationalEnclosures: Yes
## Background: Human Resource Services has initiated and continued several significant projects for the University as described below: 1. Responses to the Request for Proposal for the review of the faculty and staff compensation and classification systems have been received and a representative review committee has been formed. The committee will review the responses and recommend which bidder(s) should be invited to campus for interview/discussion/questions and answer session(s). 2. The annual benefit renewal and open enrollment for fiscal year 2014 was completed in May for a July 1, 2013 effective date. 3. We continue to monitor the responsibilities and deadlines with which Kentucky State University must comply regarding the Affordable Health Care Act (ACA). The next milestone will be the mandatory issuance of a Notice to Employees of Coverage Options which must be issued to all employees no later than October 13, 2013. 4. Performance evaluations for the period of July 1, 2012 through June 30, 2013 are due in the Office of Human Resources by August 16, 2013. 5. Two payroll ghost audits are being planned to ensure that all individuals receiving a paycheck are active Kentucky State University employees. Staff will be audited during July 2013 while faculty and students will be audited during October 2013. ===== PAGE 26 ===== 6. Direction and guidance has been received from the Ellucian "Action Line" in order to proceed with the pilot program for electronic timesheet reporting for the student employees. 7. The Kentucky State University change to the Kentucky Teachers' Retirement System (KTRS) sick leave service credit program will be implemented with an effective date of September 2, 2013. 8. A simplification process for Electronic Personnel Action Forms (EPAF) was approved by the Cabinet. The necessary forms are being revised for final implementation no later than August 1, 2013. Recommendation:
Informational
Initiator:Mr. Gary Meiseles, Director of Human Resources Services
Board Action Date:July 26, 2013
Effective Date:July 26, 2013