that Board members would be moving to adopt the amended agenda. Attorney Lang stated that Faculty Evaluations would be presented at a future Board meeting.
Move the Board to approve the amended agenda of the October 12, 2022, Quarterly Meeting of the Board of Regents.
Seconded by Regent Walston and passed without dissent.
Chair Patton invited comments prior to the approval of minutes from prior Board meetings.
Regent Hatchett commented that he has lodged three concerns as to the July 15, 2022, meeting, and the discussion and resolution of those issues presented at that meeting. Regent Hatchett asked Attorney Lang to clarify the status of the discussions and resolutions. Attorney Lang responded that it was appropriate for Regent Hatchett to raise his concerns to the full Board.
Regent Hatchett’s first concern was that he thought there may be a clerical error with the action the Board had taken at that meeting to appoint a Chair, when it should have been to appoint a Secretary. Attorney Lang responded that this is an administrative error that needs to be corrected in the minutes. [28:45].
Next, Regent Hatchett queried if the Board had accomplished the objective of requiring dual signatories on our financial investments. Attorney Lang responded that for the purposes of the Minutes, the Secretary can only transcribe or summarize exactly what was stated at the Board meeting. Therefore, Attorney Lang acknowledge that there may be some confusion in the minutes as to how the dual signatory issue was resolved.
Attorney Lang reminded everyone that the issue to which Regent Hatchett was referring was a problem that arose regarding dual signatories because the signature document only contained space for one signature. Therefore, after much discussion, the Board adopted a Resolution Order, signed by Chair Patton, stating that “By Order of the Board of Regents, Kentucky State University’s Vice President of Finance and Administration, Dr. Gerald Shields, shall serve as authorized signatory for Kentucky State University’s endowment account.” The Resolution Order further added that “Dr. Shields shall not engage in any expenditure or activity of the Kentucky State University’s endowment account funds without the express written approval of Interim President Ronald A. Johnson.” Attorney Lang stated that the Resolution was signed by the Board Chair based on the discussions at the meeting and that the form would be submitted with the one signature, but with a certification that it was known and understood by the University that President Johnson would be required to provide an explicit written statement saying that particular funds could be accessed.
Attorney Lang suggested that if Regent Hatchett and the rest of the Board agree that it is appropriate, the Resolution Order could be attached to the minutes to clarify this issue. Regent Hatchett said that would satisfy his concerns. Attorney Lang suggested that when approving