Regent James called the meeting of the Kentucky State University Board of Regents Finance and Business Committee to order at 9:36 a.m. on April 24, 2009. Regent James asked for the roll call, which was recorded as follows:
Regent Wilbert James, present Regent Laura Douglas, present Regent E. Scott Willis, absent Regent Joel Schrader, present Mrs. Johnson, present
A quorum was established.
Regent James opened the meeting by reviewing the agenda.
Action: Motion to approve the minutes from the October 24, 2008 and January 23, 2009 Finance and Business Committee meetings was made by Regent Douglas and seconded by Regent Schrader. The motion passed.
Motion to approve the minutes from the October 24, 2008 and January 23, 2009 Finance and Business Committee meetings was made by Regent Douglas and seconded by Regent Schrader. The motion passed.
Regent James recognized Mrs. Johnson to carry the meeting forward.
Mrs. Johnson briefly reviewed the informational items distributed. The Finance Division's monthly management reports were distributed at the meeting. These reports are prepared monthly and were well-received during the SACS reaffirmation process. Finance did not have any exceptions from the SACS off-site reviewers. The reports are done monthly and can be viewed on the University's intranet.
The University's insurance carrier has advised of an anticipated 5% increase in health insurance. The increase will be absorbed by the university and not passed on to the employees.
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