Board of Regents Audit Committee 12:00 pm, January 23, 2009 Frankfort, Kentucky
MINUTES
1. Call to Order
Regent Willis called the meeting of the Kentucky State University Board of Regents Audit Committee to order at 12:12 p.m. on January 23, 2009
II. Roll Call
Regent Willis asked for the roll call, which was recorded as follows:
Regent E. Scott Willis-Present Regent Karen Bearden-Present Regent Jeremy Lane-Present Regent Stephan Turner-Present Dr. Ralph Kimbrough-Present Quorum Established: Yes
III. Opening Remarks
Regent Willis recognized Dr. Kimbrough to present the minutes of the October 24, 2008, Audit Committee meeting.
IV. Approval of Minutes
Action:
Motion to approve the minutes from the October 24, 2008 Audit Committee meeting was made by Regent Karen Bearden, seconded by Regent Jeremy Lane. The motion passed.
V. Internal Auditor's Report
Dr. Kimbrough briefly discussed his audit activities in the internal audit of Land Grant Program and Journal entry and investment audits. Dr. Kimbrough made some recommendations in that area and led some discussions on increasing efficiencies for internal controls. According to Dr. Kimbrough, the report for the Land Grant Program was to be completed on January 12, 2009.
Question: Regent Willis wanted to know how they (KSU Board of Regents) could be helping more in this area or on this process.
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