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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS April 27, 2012 FINANCE AND BUSINESS MEETING INDEX
B1 Minutes of January 27, 2012 meeting
B2 Executive Summary Report
B3 Budget vs. Actual – February 2012
B4 Interim Financial Statements—February 2012 Statement of Net Assets Statement of Revenues, Expenses and Changes in Net Assets Statement of Cash Flows
B5 2012-2013 Tuition/Fee Rates 2012-2013 Schedule of Course Fees & Optional Participation Fees Fiscal 2013 Financial Plan
B6 Human Resources
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KENTUCKY STATE UNIVERSITY Regular Meeting of the Finance and Business Committee Board of Regents 10 am, April 27, 2012 Board Room, Academic Service Building Frankfort, Kentucky
Regent ___, Presiding
AGENDA
Call to Order
Chairperson
Roll Call
Mrs. Lillian Graham
Opening Remarks Chairperson
Approval of January 27, 2012 Minutes Chairperson
Executive Summary Report
Mrs. Alice Johnson
Action Items
Approval of 2012-2013 Tuition/Fee Rates
Approval of 2012-2013 Schedule of Course Fees & Optional Participation Fees
VII. Informational Items
Fiscal 2013 Financial Plan
Budget vs. Actual February 2012
Interim Financial Statement February 2012
Human Resources
XI. Adjourn Chairperson
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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
B1
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Finance and Business Committee Meeting Minutes January 27, 2012
Reason for Consideration: Action Item Enclosures: Yes
Background:
The minutes of the January 27, 2012, meeting must be approved.
Recommendation:
Approval of the minutes of the meeting on January 27, 2012
Initiator:Alice B. Johnson Vice President for Finance and Business Affairs
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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MINUTES
Kentucky State University Finance and Business and Audit Committee Joint Meeting Board of Regents Finance and Business Committee – Audit Committee 9:15 a.m., January 27, 2012 Marriott Griffin Gate Lexington, Kentucky
1. Call to Order
Regent Guamieri called the meeting to order at 9:20 a.m. on January 27, 2012.
II. Roll Call
Regent Guarnieri asked for the roll call, which was recorded as follows:
Regent David Guamieri, present
Regent Chuck Whitehead, present
Regent Ron Banks, present
Regent Mindy Barfield, absent
Regent Karen Bearden, present
Regent Syamala Reddy, absent
Regent Phyllis Williams, present
Mrs. Johnson, present
A quorum was declared.
III. Approval of Minutes
Action: Motion to approve the minutes from the May 11, 2011, July 22, 2011, and October 28, 2011 Finance and Business Committee meeting was made by Regent Whitehead. The minutes stand as approved as presented.
Motion to approve the minutes from the May 11, 2011, July 22, 2011, and October 28, 2011 Finance and Business Committee meeting was made by Regent Whitehead. The minutes stand as approved as presented.
Regent Whitehead, Chair, continued the meeting and recognized Mrs. Johnson to carry the discussion forward.
IV. Vice President's Report
Executive Summary Narrative
Vice President Johnson gave an overview of the Executive Summary Narrative.
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FY2011 Audit
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.
V. Adjournment
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
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B2
KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Executive Summary
Reason for Consideration: Informational Item Enclosures: Yes
Background:
Recommendation:
Initiator:Alice B. Johnson Vice President for Finance and Business Affairs
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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Kentucky State University Finance and Business Committee Meeting April 27, 2012
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 presented below:
Budget vs. Actual as of February 2012 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 presented for February 2012.
Included in the financial statements section (as an attachment) is a historical view of the change in unrestricted net assets.
2012- 2013 Tuition/Fee Rates. A 5% increase is proposed according to recommendations from the Council on Postsecondary Education.
Fiscal 2013 Financial Plan. The Proposed 2013 Financial Plan includes a 6.4% reduction in state appropriations and a 5% tuition/fee increase. Room and board fees for 2012-2013 were approved by the Board of Regents at the January 27, 2012 meeting.
Health, dental and life insurance rates have been established for plan year 2012-2013. Plan modifications, as recommended by the Employee Benefits Advisory Committee, include increased deductibles, improved coverage/benefits, and co-pays.
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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
B3
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Budget vs. Actual February 2012
Reason for Consideration: Informational Item Enclosures: Yes
Background: Revenues and expenses are presented for the Educational and General Fund (E&G), Auxiliary Fund, Land Grant and Action Agenda Funds. Budget vs. Actual does not include restricted grants and contracts.
The summary of operations presented below is to assist in understanding the results reflected in the budget vs. actual report as of February 2012.
The state appropriates funds for Land Grant as required by the U.S. Department of Agriculture. Land Grant, Action Agenda and Auxiliary Funds are not available to the University for discretionary spending.
Revenue
State appropriations are received in installments of 30% (July), 25% (October), 25% (January) and 20% (April) of each year. At February 2012, $19.7 million of appropriations have been received.
Student Tuition and Fees have been posted for Fall 2011 and Spring 2012 enrollment. Auxiliary revenues represent housing and board for resident students enrolled for Fall 2011 and Spring 2012. Student tuition and fees revenue amounts may decrease for the Spring 2012 semester due to student withdrawals after they have enrolled.
Other revenue includes athletic income, indirect cost recovery, facility rentals, interest income, state funding for Regional Stewardship and fund balance revenue offset. As of February 2012, $345,582 has been received for Regional Stewardship. A budgeted fund balance spend in 2012 will be posted at fiscal year end up to $2,686,800.
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Expense
Salaries and benefits expenses are at 59.36% of budget. This variance is considered normal.
Supplies, Travel, Communications and Services were expended at a level appropriate for the percent of fiscal year expired. These expenses are incurred more heavily during the academic year. Services include utilities and other services used for fall semester preparation. This variance is considered normal.
Interdepartmental Costs may reflect reductions in expenses which are due to timing in recording journal entries. Fixed Costs include maintenance agreements that require payment in full at the beginning of the service agreement; therefore, these expenses are not incurred evenly over the fiscal year. This variance is considered normal.
Student Aid should be recorded consistent with Tuition and Fees. Student Aid is typically recorded as students complete the registration process and accepts aid awards. This variance is considered normal.
Transfers include debt service obligations and internal reallocations. Transfers are typically recorded at the beginning of the fiscal year. This variance is considered normal.
Recommendation:
Initiator:Claudine Gee Director, Budget Policy & Planning
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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Approved BudgetRevised BudgetYTD Actual ActivityYTD Actual % of Revised Budget% ExpiredVarianceYTD ACTUAL BY FUND GROUP
Education & GeneralAuxiliaryLand Grant & Action Agenda
Revenues
State Appropriations25,146,80025,146,80019,728,00078.45%66.67%-21.55%14,711,22805,016,772
Student Tuition & Fees22,213,28722,213,28722,772,689102.52%66.67%2.52%22,772,68900
Auxiliaries6,516,1206,516,1206,507,24799.86%66.67%-0.14%06,507,2470
Other4,778,7004,778,700945,76919.79%66.67%-80.21%945,76900
Revenues Total58,654,90758,654,90749,953,70585.17%66.67%-14.83%38,429,6866,507,2475,016,772
Expenditures
Salaries/Wages/Benefits31,334,96732,773,61419,454,43459.36%66.67%-40.64%17,070,528747,2081,636,698
Supplies & Other3,119,0572,892,7041,017,13535.16%66.67%-64.84%666,717197,053153,365
Travel1,627,0691,618,882754,20046.59%66.67%-53.41%631,35783122,761
Communications603,134500,037361,52072.30%66.67%-27.70%332,61713,90514,999
Services9,491,1998,802,8574,877,97755.41%66.67%-44.59%2,248,0182,430,519199,440
Interdepartmental409,914312,095357,288114.48%66.67%14.48%53,954273,45829,876
Fixed Costs3,428,0884,135,8552,353,12756.90%66.67%-43.10%1,979,054177,327196,746
Student Aid4,693,9944,592,3014,693,286102.20%66.67%2.20%4,562,273131,0130
Capital1,314,371853,6341,181,505138.41%66.67%38.41%488,578361,782331,144
Expenditures Total56,021,79456,481,97935,050,47162.06%66.67%-37.94%28,033,0964,332,3472,685,028
Surplus (Deficit) before Transfers2,633,1132,172,92814,903,23410,396,5912,174,9002,331,744
Mandatory & Nonmandatory Transfers2,633,1142,172,9282,143,45798.64%66.67%-1.36%1,334,518789,31219,627
Surplus (Deficit)(0)(0)12,759,7789,062,0731,385,5872,312,117
Budget vs. Actual Month Ending February 29, 2012
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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
B4
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Interim Financial Statements – February 2012
Reason for Consideration: Informational Item Enclosures: Yes
Background:
Interim Financial Statements are included as of February 29, 2012. A brief summary explanation of certain current assets and plant items follows:
Cash and cash equivalents total $37.3 million. This amount includes $18.6 million that is restricted for Land Grant and Action Agenda programs and $4.5 million that is restricted for plant purposes. The remainder is current operating cash that will be disbursed for current operations during the year.
Accounts receivable totaling $13.3 million includes the receivables from students, grants and loans. This amount includes $3.1 million in student accounts receivables, and $10.2 million that is grants and other accounts receivables.
Current liabilities of $6.8 million consist of accounts payable and accrued payroll liabilities. Accrued compensated absences total $2.1 million and Deferred Revenue totals $1.8 million.
As of February 2012, net assets reflect an $11.8 million increase primarily due to federal grants and contract revenues.
The Statement of Cash Flows reflects a net increase of $7.7 million at February 2012. Operations consumed $19.9 million of cash through February 2012.
Additional information is included on the change in unrestricted net assets from 2004 through the February 2012 interim unaudited financials.
Initiator:Katherine Napier Associate Vice President for Business Operations
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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Kentucky State University Statement of Net Assets February 29, 2012 (Unaudited)
FY 2012
ASSETS
Current assets
Cash and cash equivalents37,309,205
Accounts, grants and loans receivable, net12,486,432
Investments-
Inventory and other current assets981,593
Total current assets50,777,230
Noncurrent assets
Accounts, grants and loans receivable, net855,724
Investments10,814,578
Capital assets, net81,728,656
Total noncurrent assets93,398,958
Total assets144,176,188
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities1,955,850
Accrued compensated absences2,060,002
Deferred revenue1,804,371
Deposits62,698
Other current liabilities78,689
Bonds and capital lease obligations847,179
Total current liabilities6,808,789
Noncurrent liabilities
Bonds and capital lease obligations8,474,426
Federal grants refundable991,709
Total noncurrent liabilities9,466,135
Total liabilities16,274,924
NET ASSETS
Invested in capital assets, net of related debt72,407,051
Restricted
Nonexpendable9,863,774
Expendable11,908,946
Unrestricted33,721,492
Total net assets127,901,263
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Kentucky State University Addendum to Statement of Net Assets Components of Fund Balances - Disaggregated (Unaudited)
June 302011ActualYTD ActivityFebruary 292012
Invested in Capital Assets, net of related debt73,936,125(1,529,074)72,407,051
Restricted - Nonexpendable:
Endowments8,594,5131,269,2619,863,774
Expendable:
Grants & Contracts(689,996)9,770,9679,080,972
Endowments1,541,194(590,390)950,804
Plant Renewal & Replacement3,928,818(2,571,648)1,357,170
Capital Renewal Reserves339,657180,343520,000
5,119,6736,789,27211,908,946
Unrestricted:
Education & General7,167,0094,175,81111,342,820
E&G Plant Reserve2,500,000(2,500,000)-
Auxiliary2,604,5981,305,9643,910,562
Land Grant Match16,057,2972,410,81318,468,110
28,328,9045,392,58833,721,492
Total Net Assets115,979,21511,922,048127,901,263
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Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending February 29, 2012 (Unaudited)
REVENUESFY 2012
Operating Revenues
Student tuition and fees (gross)21,694,414
Less: Scholarship allowances(3,927,673)
Student tuition and fees (net of scholarships)17,766,741
Federal grants and contracts4,926,517
Federal appropriations2,049,878
State and local grants and contracts347,429
Nongovernmental grants and contracts-
Auxiliary enterprises
Residence halls3,312,289
Dining3,122,789
Bookstore75,000
Other auxiliaries41,386
Other operating revenues776,326
Total operating revenues32,418,355
EXPENSES
Operating expenses
Educational and general
Instruction8,506,334
Research3,666,068
Public service3,787,544
Academic support2,522,866
Student services4,357,083
Institutional support6,645,677
Operation and maintenance of plant3,915,098
Student aid9,051,544
Depreciation2,498,865
Auxiliary enterprises
Residence halls1,863,465
Dining1,820,064
Bookstore-
Other auxiliaries94,803
Depreciation440,976
Total operating expenses49,170,387
Operating income (loss)(16,752,032)
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Kentucky State University Statement of Revenues, Expenses and Changes in Net Assets (By Function) Period Ending February 29, 2012 (Unaudited)
NONOPERATING REVENUES (EXPENSES)
State appropriations19,841,270
Federal Grants and Contracts7,103,034
Gifts80,255
Investment income (net of investment expense)206,550
Interest on capital asset-related debt-
Other nonoperating revenues (expenses)1,340,419
Net nonoperating revenues28,571,528
Income (loss) before other revenues, expenses, gains or losses11,842,064
Capital appropriations-
Endowment Gifts102,552
Increase (decrease) in net assets11,922,048
Net assets, beginning of year115,979,215
Net assets, end of year127,901,263
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Kentucky State University Statement of Cash Flows Period Ending February 29, 2012 (Unaudited)
FY 2012
Cash flows from operating activities
Tuition and fees18,058,685
Grants and contracts4,409,164
Payments to suppliers(24,211,074)
Payments to employees(22,456,519)
Loans issued to students(196,687)
Collection of loans issued to students83,576
Auxiliary enterprises:
Residence halls and dining6,435,078
Bookstore-
Other auxiliaries-
Other receipts (payments)(2,016,958)
Net cash from operating activities(19,894,735)
Cash flows from noncapital financing activities
State appropriations19,841,270
Federal Grants and Contracts7,103,034
Gifts for other than capital purposes182,807
Student organization agency receipts96,370
Student organization agency disbursements(70,044)
Other receipts (payments)1,466,589
Net cash from noncapital financing activities28,620,026
Cash flows from capital financing activities
Capital appropriations-
Purchases of capital assets(1,291,970)
Principal paid on capital debt(118,797)
Interest paid on capital debt252
Net cash flows from capital financing activities(1,410,515)
Cash flows from investing activities
Interest received on investments140,038
Investment expenses(29,531)
Proceeds from sale of investments763,580
Purchases of investments(502,854)
Net cash flows from investing activities371,233
Net increase (decrease) in cash and cash equivalents7,686,009
Cash and cash equivalents at beginning of year29,623,196
Cash and cash equivalents at end of year37,309,205
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Kentucky State University Statement of Cash Flows Period Ending February 29, 2012 (Unaudited)
Reconciliation of net operating loss to net cash from operating activities
Operating loss(16,752,032)
cash from operating activities:
Depreciation expense2,939,842
Changes in assets and liabilities:
Receivables, net(5,602,840)
Inventory and prepaid expenses270,084
Accounts payable and accrued liabilities(254,726)
Accrued compensated absences(71,018)
Other Liabilities(82,408)
Deferred revenue(341,636)
Net cash from operating activities(19,894,735)
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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
B5
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: 2012-2013 Tuition/Fee Rates 2012-2013 Schedule of Course Fees & Optional Participation Fees
Reason for Consideration: Action Items Enclosures: Yes
Background:
A 5% increase is proposed according to recommendations from the Council on Postsecondary Education and reflected in the attached schedule along with proposed course and optional participation fees.
Room and board fees for 2012-2013 were approved by the Board of Regents at the January 27, 2012 meeting.
Recommendation:
Approval of the 2012-2013 Tuition/Fee Rates Approval of the 2012-2013 Schedule of Course Fees & Optional Participation Fees
Initiator:Claudine Gee Director, Budget Policy & Planning
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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KENTUCKY STATE UNIVERSITY RECOMMENDED FEE SCHEDULE EFFECTIVE FALL SEMESTER 2012
FY 2011-2012 FY 2012-2013
Full-Time Per Credit Hour Full-Time Per Credit Hour Percent Inc/Dec on PCH Basis
Fall & Spring Tuition Mandatory Total Fall & Spring Tuition Mandatory Total
Semester Rate Fee Rate Semester Rate Fee Rate
Undergraduate Ceiling @ 15sch Ceiling @ 15sch
Resident $3,266 $217 $25 $242 $3,429 $229 $25 $254
Non-Resident Destiny $6,531 $459 $25 $484 $6,858 $483 $25 $508
Non-Resident $7,837 $556 $25 $581 $8,230 $585 $25 $610
On-line $309 $324
Graduate @9sch @9sch
Resident $3,330 $344 $25 $369 $3,483 $362 $25 $387
Non-Resident $4,983 $529 $25 $554 $5,238 $557 $25 $582
On-line $386 $405
Notes:
All full-time undergraduate students will be assessed at the appropriate per credit hour rate for 12 credit hours. Hours enrolled beyond 12 credit hours will be assessed at 50% of the appropriate per credit hour rate.
2 All students enrolled in on-line courses (courses with at least 50% of the instruction delivered online) will be assessed an additional $35 per credit hour access fee
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Kentucky State University FY 2013 Course and Optional Participation Fees
2011-12 Approved Fees2012-13 Requested Changes2012-13 Proposed Fees
Optional Participation Fees
Activity Fee170.00-170.00
Application Fee30.00-30.00
Application Fee--International Students100.00-100.00
Auto Registration--Faculty/Staff (per year)100.00-100.00
Auto Registration--Students (per year)30.00-30.00
Damage Fee (non-refundable)125.00-125.00
Deferred Payment Fee (per semester)75.00-75.00
Diploma Replacement (undergraduate)13.00-13.00
Diploma/Cover Replacement (undergraduate)20.00-20.00
Diploma Replacement (graduate)20.00-20.00
Diploma/Cover Replacement (graduate)40.00-40.00
Drop/Add Fee30.00-30.00
Graduation Fee--Graduate (excl cap/gown) non-refundable125.00-125.00
Graduation Fee--Undergraduate (excl cap/gown) non-refundable75.00-75.00
Health Insurance Fee (per semester)264.00-264.00
Homecoming Fee (fall semester only)50.00-50.00
ID Card Replacement Fee (per card)20.00-20.00
Student Housing Fire, Theft Property Insurance60.00-60.00
Housing Access Control Fee (One Time Housing Fee,) non-refundable50.00-50.00
Late Registration (per semester)100.00-100.00
Nursing Student Liability Insurance Fee (Fall Semester)16.00-16.00
Orientation Fee35.00-35.00
Re-instatement Fee50.00-50.00
Return Check Fee50.00-50.00
Room Reservation (per year)75.00-75.00
Thesis Fee30.00-30.00
Transcript Fee10.00-10.00
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Kentucky State University FY 2013 Course and Optional Participation Fees
2011-12 Approved Fees2012-13 Requested Changes2012-13 Proposed Fees
Test Fees
ACAT---
ACT Plus Writing---
ACT Test Fee--National34.00-34.00
ACT Test Fee--Residual34.00-34.00
CLEP Test--KSU25.00-25.00
CLEP Test--CLEP77.00-77.00
Correspondence Exams25.00-25.00
CPP-2 Test---
GMAT Test---
GRE Test---
Law School Reports---
LSDAS---
LSAT Test---
MAT (Miller Analogies Test)77.00-77.00
MCAT Test---
NLN/ACE (TBA)70.00-70.00
NCLEX Review350.00-350.00
PRAXIS Test--Registration---
PRAXIS Test--Subjects---
SAT1 Test - Reasoning49.00-49.00
SAT2 Test - Subject (each)22.00-22.00
SAT2 Test - Listening22.00-22.00
TOEFL Test125.00-125.00
Testing Transcript (per copy)5.00-5.00
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Kentucky State University FY 2013 Course and Optional Participation Fees
2011-12 Approved Fees 2012-13 Requested Changes 2012-13 Proposed Fees
Course & Lab Fees (per course)
Applied Information Technology
CIT 110, 120, 121, 136, 137, 220, 221, 222, 230, 251, 255, 300, 310, 350 20 - 20
351, 352, 355, 361, 362, 420, 430, 440, 450, 451, 452, 460 20 - 20
Aquaculture
AQU 411, 412, 413, 427, 460, 511, 512, 527, 560 30 - 30
Art
ART 130, 360 10 - 10
ART 101, 108, 110, 112, 113, 211, 305, 306, 310, 319, 330, 405, 419, 430, 431, 432, 30 - 30
ART 220, 240, 315, 317, 321, 340, 415, 417, 420, 433, 434, 435, 436, 437, 438, 439 50 - 50
ART 440, 441, 442, 443, 444
ART 307, 312, 322, 407, 412, 451, 452, 453, 454 75 - 75
Biology
BIO 101, 107, 108, 111, 204, 210, 212, 301, 302, 303, 304, 305, 307, 308, 309 30 - 30
BIO 315, 316, 317, 318, 408, 410, 411, 412, 413, 417, 427, 460 30 - 30
Chemistry
CHE 110, 120, 203, 220, 307, 308, 310, 312, 314, 350 35 - 35
Child Develop/Family Relations
CDF 315, 407, 408 30 - 30
Computer Science
COS 100, 101, 108, 109, 180, 200, 230, 232, 242, 250, 300, 301, 340, 350 15 - 15
COS 410, 420, 481, 482, 483, 484, 485, 502, 504, 511, 512, 513, 514 15 - 15
COS 515, 517, 518, 520, 533, 581, 582, 583, 584, 585, 586, 587, 588, 589 15 - 15
Music
MUS 112, 114, 212, 214 25 - 25
Half Hour Private Lesson/wk 50 - 50
One Hour Private Lesson/wk 75 - 75
Nursing
NUR 111, 112, 201, 202, 211, 212 200 - 200
Physical Sciences
PHS 201, 202, 211 20 - 20
Physics
PHY 111, 112, 207, 208, 211, 212, 320, 340, 361 20 - 20
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KENTUCKY STATE UNIVERSITY BOARD OF REGENTS AGENDA ITEM BACKGROUND
B6
To: Board of Regents Finance and Business Committee Date: April 27, 2012
From: Alice B. Johnson Vice President for Finance and Business Affairs
Subject: Human Resources Update
Reason for Consideration: Informational Item Enclosures: No
Background: Human Resource Services has initiated and implemented several significant projects for the University as described below:
The Employee Benefits Advisory Committee (EBAC), working with information provided by benefits consultant Neace Lukens, formalized recommendations for fiscal year 2013 employee benefits. The recommendations were presented to and approved by the Cabinet.
The first two issues of a new, monthly Human Resources newsletter (H.R.S. Updates) were distributed.
Employees received a statement of their total compensation for calendar year 2011. Total compensation reflects the employee's base pay as well as contributions the University makes for certain benefits on behalf of the employee. The total compensation statement will be issued annually.
A contract was signed with an outside provider to prepare an affirmative action plan for the University.
Employee bio-demographics were updated based upon a survey prepared by Institutional Research.
Initiator:Gary Meiseles Director of Human Resource Services
Board Action Date:April 27, 2012
Effective Date:April 27, 2012
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