Copies of the FY2011 Audit were distributed to Board and Cabinet members present. Vice President Johnson gave a summary of the FY2011 Audit and stated that the university received an unqualified opinion. Vice President Johnson stated to the Board that unlike prior years, FY2011 had the smallest increase in accounts receivables due to efforts put forth to get students to finance their bills.
Vice President Johnson introduced Crissy Fiscus and Lance Mann, with Dean Dorton Allen Ford, PLLC the university's external auditors. Ms. Fiscus gave an overview of the university's FY2011 audit and also explained the auditor's responsibilities.
Regent Whitehead called for a closed session of the Finance and Business and Audit Committee's January 27, 2012 meeting at 10:10 a.m. With no further business, the meeting was adjourned.
Submitted by: Approved by:
Alice B. Johnson Vice President for Finance and Business Kentucky State University
Chair
Finance and Business Committee Board of Regents Kentucky State University
___ Approved with no corrections
____ Approved with corrections