KENTUCKY STATE UNIVERSITY Board of Regents
DATE:April 16, 2018
SUBJ ECT:Auditor Contract for FY 2018
FROM:Office of the General Counsel
ACTION ITEM:Yes
BACKGROUND: In compliance with statute, the University is mandated to undergo an annual audit.
SUMMARY OF PROGRAMS/ACTIVITIES: To ensure compliance with statute, campus staff have proposed that the University contract an Auditor to conduct the 2018 Fiscal Year Audit.
ALIGNMENT WITH STRATEGIC GOALS: Goal 3—Increase the University's Financial Strength and Operational Efficiency. The approval and execution of the contract will increase the University's financial strength and operational efficiency by reducing University operating costs.
COMMITTEE/PROGRAM ACTION: N/A
PROGRAM IMPLICATIONS: The University as a whole will benefit from approval and execution of the contract and will ensure compliance with statute in obtaining an annual audit.
FISCAL IMPLICATIONS: It is anticipated the University will be able to reduce operational costs and increase operational efficiency through the contracts.