KENTUCKY STATE UNIVERSITY BOARD OF REGENTS FINANCE & ADMINISTRATION COMMITTEE SPECIAL CALLED MEETING

*** Meeting Was Conducted in Person and by Teleconference *** Wednesday, September 7, 2022 10:00 a.m. EDT

Board of Regents Room Julian M. Carroll Academic Services Building, 2nd Floor 400 East Main Street Frankfort, Kentucky 40601 (Primary Physical Location)

MINUTES

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I. Call To Order

The Committee’s Chair, Regent Ed Hatchett, called the meeting to order at 10:00 a.m.

II. Roll Call

Chair Hatchett called the roll:

Regent Tammi Dukes Not Present Regent Charles Moyer, PhD Present Regent Robert Ramsey, Sr. Present Dr. James Tidwell Present Ms. Christina Jones Present Regent Edward Hatchett, Esq. Present

Five Committee members were present during the roll call; a quorum was therefore established. Regent Dukes was not present at roll call but appeared shortly thereafter.

III. Approval of the Agenda

MOTION by Regent Moyer:

Move the Committee to approve the agenda of the September 7, 2022, Special Called Meeting of the Finance and Administration Committee.

Seconded by Regent Ramsey and passed without dissent.

IV. Preparation of Auditable Financial Statements for Years 2020 and 2021

Dr. Shields, Vice President for Finance & Administration and CFO, shared a presentation relating to the preparation of auditable financial statements for years 2020 and 2021. As to the first slide under the Balance Sheet tab, “Statements of Net Position,” Chair Hatchett asked what was included in the Allowance for Doubtful Accounts and how it was calculated. Chair Hatchett asked if Dr. Shields could define more precisely the meanings of “Grant Receivable” and “Other Receivables”.