Regent Walston inquired into the success of the work-study program and whether participating students were attracting other students who wish to work in order to pay their tuition bills.

Regent Moyer asked as to the tuition and collection fees side and why this year’s collections are lower than those of this time last year.

Next, Ms. Dunaway presented an E&G operating expense summary and stated that forecasting for the remainder of FY25 will be presented in January.

Chair Dukes inquired into accountability measures in place for employees who repeatedly violate the University’s purchasing and accounting policies and procedures and whether onboard training is being utilized to minimize this type of activity.

Regent Walston and Chair Dukes posed questions regarding the Sodexo contract and dining service expenditures.

Moving forward, Ms. Dunaway presented Auxiliary Operations Revenues and Expenses/Transfers by Natural Classification, including comparative prior year data and contracted services expenses.

Chair Dukes requested further information regarding the fringe benefit rate relative to the E&G budget and sought clarification regarding specific operating expenses.

Ms. Dunaway also reported the current available cash balance and invited President Akakpo to discuss the CPE reserve balances. President Akakpo requested that moving forward, the terms “restricted balance” be used instead of “reserve balance” as the fund is already obligated and “reserve balance” could be misleading.

Regent Moyer queried how the current available cash balance compared with that of the same time last year and sought clarification regarding grant drawdowns.

Regent Fields also inquired into drawing down grants and how they are classified in the cash balance report.

Regent Moyer sought the time frame between drawdown and reimbursement.

Regent Walston queried whether the University’s financial reports, such as the Federal report, were being timely submitted.

Next, Ms. Dunaway presented the student accounts receivable report with comparative prior year data.

Regent Fields inquired whether the student accounts receivable report was for this semester only.

Chair Dukes asked whether the Registrar's Office or Financial Aid were aware whether a student was able to pay for the semester prior to allowing them to enroll in classes.