Board or a committee of the Board. Mentoring and detective controls of credit card purchases was implemented on May 1, 2023. Credit card policy is currently under review/revision.

KSU shall record credit card expenditure in Banner with actual vendor transactions are entered in the accounting system for the expense. Credit card expenditures relating to vendor payments will be recorded and monitored in the Banner for tracking.

Since Banner does not have functionality to allow check voiding information from intelacheck back into Banner, internal procedures are being updated to include once the check is voided in Intellicheck it also needs to be voided in Banner. When reestablishing a new check, it identifies voided check. Evasion (Intelacheck) will be mirrored with Banner to prevent unrecorded voided checks. A review of voided checks listed in IntelaCheck will be compared to Banner.

KSU shall review system controls to ensure voided checks are recorded in Banner system. The check processor Envision system (Intelacheck) voided checks will be reconciled with Banner system of voided checks to prevent overpayment, duplicate payments and/or unrecorded voided checks. Voided/or missing payments will be reviewed monthly. Checks identified in Intelacheck will be compared and noted in the Banner system.

KSU will revise policies and procedures to include comparing financial activity to budgeted activity on a monthly or quarterly basis and investigating any unexpected variances above or below the approved thresholds established.

Monitoring financial activity on a more frequent basis will help identify potential financial issues.

Finding 5: KSU's Outdated or Rogue Policies and Procedures Result from An Undefined Policy Setting Process.

Recommendations:

• KSU's Board consider employing or designating an individual whose primary responsibility is to serve as Secretary to the Board, independent of the university president position. This position would report to the Board and be responsible for timely collection and distribution of Board materials to each Board member and could bring forward to the Board reminders of past tabled actions or provide status on prior Board actions, such as status of the implementation of Board approved policies. This individual may also be responsible for updating KSU's catalog of policies. Access to add a policy into the repository should be restricted to ensure policies are properly processed before being made available to employees and students.
• In establishing and updating policies, KSU consider using language in the policy identifying clearly that this policy replaces existing policies (known or unknown) to avoid