Regent Obielodan commented on the year 2026 budget report for ENG as an improvement. Discussed the shift from internal staffing towards external service contracts. Dr. Bigard responded to the comments on the shift towards contracted services.
Regent Hatchett commented on the two contracts worth $8.4 million to Magellan and Sway Communications that they are being asked to approve at the meeting.
Dr. Bigard discussed the contracts as continuing contracts as an extension of the original. One is for the online partner and the other for marketing.
Regent Obielodan further discussed hiring qualified faculty in each program area.
Regent Obielodan said housing revenue is down by about 39%; dining revenue down by 45%. Questioned how to bring those back up.
Dr. Bigard said a couple of dorms are offline right now and when they come back online, they will be able to generate more revenue off of housing. She also discussing the study of the dining service contract and the costs. She said they are going to do a cost analysis of the service area to determine strategies needed to grow the auxiliary services.
Regent Obielodan asked if they were going to be able to establish some KPIs to see the program.
endowment interest. Dr. Bigard responded to the question as did Michael DeCourcy and Regent Obielodan.
Regent Moyer said the audits are incomplete for FY24.
Dr. Bigard said they expect to receive the financial statement audit today. However, may not receive the single audit, which includes audits of grants and external revenues from federal resources.
Dr. Akakpo said they will get their decision of the warning status at the Nashville SAC's annual visit, but the 2024 audit is a must because per policy they cannot be on warning for more than 24 months.
The FY25 audit has already begun under leadership of controller Dr. Hicks.
Targeting March 2026 as the completion for that audit.
Regent Moyer asked if the projected 2025 audit date comports with SACS requirements.
Dr. Bigard said they need to get it to them by that deadline so it can be on the June agenda board meeting.
Regent Obielodan inquired about the possibility of expedited work on their part. Dr. Bigard responded that the current FY24 was expedited.
There was a discussion about the completion of the FY24 audit and the cost for the consultant.
There was a discussion that violations were 16 and is down to 5, which are related to the audit.
Regent Dukes commented that the are learning their lessons on the audits and the