University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
June 17, 2008
University Center at 2:30 p.m.

Agenda

Item 1 Call to Order

Chair Twomey will call the meeting to order.

Item 2 Minutes (May 15, 2008

Chair Twomey will address the Committee and ask for approval of the minutes from the May 15, 2008 meeting.

 

Proposed Action: Approval. Motion and second required.

Item 3 Open Comments 

Chair Twomey will address the Committee and offer opportunity for open comments.


Proposed Action: No motion required.  

Item 4 Schedule of Tuition and Fees (Attachment 1, 2)

The University proposes the attached tuition and matriculations fees for 2008-2009.

 

Vice President Serwatka will address the Committee and present the schedule of tuition and fees.

 

Proposed Action: Approval. Motion and second required.

Item 5 Amendment of Regulations (Schedule of Tuition and Fees; Special Fees, Fines and Penalties) (Attachment 1, 2, 3)

The purpose of this item is to present proposed amendments to the 2008 – 2009 tuition and fee regulations.  In accordance with the Board of Governors Regulation Development Procedures, the tuition and fee regulations will be promulgated to ensure the appropriate rates and fees are in full force and effect for 2008 – 2009 academic calendar.  Once the full Board of Trustees has voted to adopt the regulations (tuition and fee regulations), the regulation will be sent to the Board of Governors, for final review and approval.  The regulations will become effective upon approval of the Board of Governors. 

 

Vice President and General Counsel Stone will address the Board and present the tuition and fees regulations.

 

Proposed Action: Approval. Motion and second required.

Item 6 Policy and Procedure for Increasing Miscellaneous University Fees (Attachment 1, 2)

A revision of the Policy and Procedures for Increasing Miscellaneous University Fees is being submitted for Committee review and approval. The revision to the existing policy allows the President to establish distance learning fees.

 

Vice President Serwatka will address the Committee and present this item.


Proposed Action: Approval. Motion and second required.  

Item 7 UNF Budget (Attachment 1)

Each university board of trustees is required to approve the university budget prior to submission to the Florida Board of Governors and the Florida Legislature. The Finance and Audit Committee held open workshops on the attached budget proposal and is seeking a recommendation for approval to the Board of Trustees.

 

Vice President Shuman will address the Committee and present UNF’s budget.

 

Proposed Action: Approval. Motion and second required.

Item 8 Annual Capital Outlay Plan for Fiscal Year 2008-2009 (Attachment 1, 2)

According to Florida Statutes, the Board of Trustees shall, each year, adopt a capital outlay budget for the upcoming year.  This plan shall designate the proposed capital outlay expenditures by project from all fund sources.  Attached is the Annual Capital Outlay Budget for Fiscal Year 2008-2009.  

 

Vice President Shuman will address the Committee and present this plan.

 

Proposed Action: Approval. Motion and second required.

Item 9 Approve Transfer for Cash (Attachment 1)

The University administration seeks Board approval to permit the UNF Financing Corporation to utilize $10 million of University funds for the purpose of increasing the reserve fund, as required to comply with the requirements of the trust indenture.

 

Vice President Shuman will address the Committee and present this item.

 

Proposed Action: Approval. Motion and second required.

Item 10 Memorandum of Understanding (MOU) between the Board of Trustees and the UNF Financing Corporation (UNFFC) (Attachment 1, 2)

The MOU between the Board of Trustees and the UNFFC is being presented to the Committee for review prior to ratification by the Board of Trustees. It has been approved by UNFFC’s board of directors.

 

Vice President Shuman will address the Committee and present the memorandum of understanding.

 

Proposed Action: Approval. Motion and second required.

Item 11 Direct Support Organizations (DSO’s) Budgets (Attachment 1, 2, 3, 4)

The purpose of this item is to present, for review, budgets for UNF’s DSO’s, including UNF’s Financing Corporation (UNFFC), the Training and Service Institute (TSI) and the UNF Foundation, Inc.

 

Vice President Shuman will address the Committee and present this item.

 

Proposed Action: Review. No motion required.

Item 12 Revised Charter for the Finance and Audit Committee  (Attachment 1, 2, 3)

The purpose of this item is to present for review the revised charter for the Finance and Audit Committee. It is consistent with the Institute of Internal Auditors’ guidelines.

 

Mr. Berry will address the Committee and present this item.

 

Proposed Action: Approval. Motion and second required.

Item 13 Revised Charter for the Office of Internal Auditing (Attachment 1, 2, 3)

The purpose of this item is to present for review a draft of a charter for the Office of Internal Auditing. This charter is consistent with the guidelines from the Institute of Internal Auditors.

 

Mr. Berry will address the Committee and present this item.

 

Proposed Action: Approval. Motion and second required.

Item 14 Adjournment 

Chair Twomey will adjourn the meeting.