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Special Called Meeting of the Board of Regents Friday, September 16, 2022 11:00 a.m. EDT

Board of Regents Room

Julian M. Carroll Academic Services Building, Second Floor Frankfort, Kentucky 40601

KENTUCKY STATE UNIVERSITY BOARD OF REGENTS SPECIAL CALLED MEETING

Meeting Will be Conducted by Teleconference***

Friday, September 16, 2022 11:00 a.m. EDT

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

Zoom Link: https://kysu.zoom.us/j/97093252632 Webinar ID: 970 9325 2632 One Tap Mobile: US: +16468769923,,97093252632# or +16469313860,,97093252632#

AGENDA

1. Call to Order Dr. Gerald Patton, Board Chair
2. Roll Call Chair Patton
3. Approval of the Agenda Chair Patton
4. Action Items
5. A.Approval to Enter into an Agreement With an External Auditor Dr. Gerald Shields, VP of Finance and Administration/CFO
6. B.Approval of Personnel Actions CFO Shields
5. Closed Session
6. A.Pending Litigation (KRS 61.810(1)(c)) Chair Patton
6. Public Action(s)
7. A.Approve Legal Action(s) or Settlement(s) Chair Patton
7. Closing Remarks Chair Patton
8. Adjournment Chair Patton

KENTUCKY STATE UNIVERSITY BOARD OF REGENTS

ACTION ITEM:

Approval to enter into an Agreement with an External Auditor.

FACTS:

Under state law, and pursuant to KRS 164A.170, the University is required to complete an annual report and audit:

"The corporation shall, promptly following the close of each fiscal year, submit an annual report of its activities for the preceding year to the Governor and the General Assembly. Each such report shall set forth a complete operating and financial statement of the corporation during the year. The corporation shall also cause an annual audit to be made by a resident independent certified public accountant of its books, accounts, and records, with respect to its receipts, disbursements, contracts, mortgages, leases, assignments, loans and all other matters relating to its financial operations. The persons performing such audit shall furnish copies of the audit report to the secretary of the Finance and Administration Cabinet, where they shall be placed on file and made available for inspection by the general public."

Beginning in September 2017, Crowe LLP (formerly known as Crowe Horwath LLP) served as the University's independent external auditor. Crowe LLP continued to serve in that role through June 30, 2022. The University's contract with Crowe LLP is now subject to renewal. The University has the option of seeking a renewal of the existing contract or negotiating a new contract with another vendor that maintains a General Services Administration price agreement with the United States of America, pursuant to KRS 164A.575(2).

The University now seeks approval to negotiate a new contract, pursuant to KRS 164A.572(2), that will not exceed a price higher than is contained in the contract between the new vendor and the General Services Administration.

BUDGETARY IMPLICATIONS:

The University has included the completion of the annual report and audit in its budget funds.

Finance and Administration

KENTUCKY STATE UNIVERSITY BOARD OF REGENTS

RECOMMENDATION:

Interim President Johnson recommends that the Board of Regents approves entering into an Agreement with an External Auditor.

MOTION:

Approve Kentucky State University's entry into an Agreement with an External Auditor.

Finance and Administration

KENTUCKY STATE UNIVERSITY BOARD OF REGENTS

ACTION ITEM:

Approval of Personnel Actions.

FACTS:

House Bill 250 (hereinafter “HB250”), an act relating to Kentucky State University (hereinafter “KSU”), was signed into law on April 8, 2022. The Bill requires the Council to approve all KSU expenditures over $5,000. To carry out this responsibility, the Council adopted a KSU Expenditure Approval Policy, which requires all personnel actions to be approved by the KSU Board of Regents, or designated Committee, before the resulting expenditures will be approved.

BUDGETARY IMPLICATIONS:

Kentucky State University's Budget Office has approved the salary/salary ranges for the pending/proposed personnel actions. Most of the positions will be E&G-funded, but several positions will be entirely grant-funded.

RECOMMENDATION:

Interim President Ronald A. Johnson recommends that the Kentucky State University Board of Regents approves these personnel actions.

MOTION:

Approve Personnel Actions.

Finance and Administration

Total Cost

Total Cost

$116,220