of CLA last week, who indicated that everything is ready to go. CLA is waiting for one item from Protiviti, but they have begun writing the report. CLA expects the audit to be completed within two and a half weeks. As to FY24, President Akakpo reported that CLA has begun this audit in a very basic and preliminary manner. As soon as the FY 23 audit is completed, CLA will begin the FY24 audit in earnest. President Akakpo stated that the USDOE has informed the University that the FY24 audit is due March 31, which he does not expect the University to be able to meet.
Regent Dukes asked what is being done to ensure that specific items requested during the FY23 audit (e.g., formats, schedules, and templates) will be incorporated into the FY24 audit.
Vice Chair Moyer sought confirmation that the FY23 audit would be completed within the next two weeks and queried as to the FY24 audit deadline. Regent Ramsey posed a similar question regarding the FY24 audit’s target completion date.
This agenda item was incorporated into the previous agenda item discussion.
VP Dunaway presented this agenda item, reporting the status of work being performed by CBIZ and Your Part-Time Controller (YPTC). CBIZ will be auditing IT and HR this year and are revisiting the Accounts Payable audit. Further, CBIZ is preparing the Emergency ERM document, which she expects to receive within the next month.
Finance & Administration is implementing many of the policies and procedures developed by YPTC and is preparing to roll out a reconciliation process for University administrative staff for their areas and units. Meetings with individual units will begin in February to plan the 2025–26 budget.
Regent Dukes requested a list of open items identified by CBIZ for the FY23 and FY24 audits, as well as the status of those items.
Following VP Dunaway's presentation of the above items, this agenda item was presented by Mr. Michael DeCourcy, VP, Institutional Advancement & External Relations, and Mariner Wealth Advisors.
Mr. DeCourcy introduced Mr. David King of Mariner Wealth Advisors, who began by sharing background information on himself, the firm, and its Institutional Investment Policy Group. Next, Mr. King discussed the University's portfolio performance. Hearing no questions, Vice Chair Moyer thanked Mr. King for his presentation.
This agenda item was presented by VP Dunaway, who began with data for E&G expenses and revenues. She noted that as of January 27, uncollectibles had been reduced from $1.4 million to $989,842.