University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
December 9, 2004
University Center at 8:30 a.m.

Minutes

Committee members present

O’Neal Douglas, Wilfredo Gonzalez, Steve Halverson, Wanyonyi Kendrick, Judith Solano, Kevin Twomey

 

No committee members were absent. 

Other trustees present

Carol Thompson

Call to Order and Approval of Minutes

Chair Twomey called the meeting to order. He asked if there were questions or comments concerning the previous minutes. When no comments were offered, he asked for a motion to approve them. Trustee Solano moved to approve, Trustee Douglas seconded, and the motion was approved unanimously.

Signature Authority for Checks

Chair Twomey asked Ms. Shuman to talk about the item on signature authority, observing that the issue had been presented to the committee before. Vice President Shuman replied that according to Florida statute, in order to add names to the list with signature authority, Board approval was required. She added that the employees included in this request would have the ability to make transfers, but only for transactions that had already been authorized. Ms. Stone noted that the employees’ names must be noted in the minutes (below).

 

  1. Floyd E. Hurst, University Controller
  2. Michael S. Neglia, University Treasurer
  3. Donna S. Beasley, Associate Controller
  4. Meredith C. Coit, Senior Accountant
  5. Margaret R. Warden, Accountant

 

Chair Twomey asked Vice President Shuman if she was confident in each of the employees’ qualifications, training, and ability to appropriately carry out required duties. She replied that she was.

 

There were no questions. Trustee Douglas moved to recommend approval of the motion to the Board of Trustees. The motion was seconded by Trustee Solano and approved unanimously.

UNF Investment Policy

Chair Twomey asked Vice President Shuman to discuss the University’s investment policy. Ms. Shuman said the University had hired a new treasurer, Mr. Michael Neglia, who came to UNF from Winn Dixie.

 

At this point, the committee began experiencing technical difficulties with the conference call connection. The committee was re-connected via another line. Before the committee commenced further discussion of business, it was determined that with the reconnected call it was impossible to make the discussions available with live streaming internet. Accordingly, it was determined that further discussion would be conducted at a future date and the meeting was adjourned