University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
May 15, 2008
University Center at 8:30 a.m.

Agenda

Item 1 Call to Order  

Chair Twomey will call the meeting to order.  

Item 2 Minutes (March 12, 2008)  

Chair Twomey will address the Committee and ask for approval of the minutes from the March 12, 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 Repeal of Regulations (University Complaint and Grievance Resolution for Non-Union Employees; Hours of Work, Benefits and Leave Requirements; Separation from Employment) (Attachment 1, 2, 3, 4

These regulations are being presented for repeal.  Each regulation is being replaced with a policy based on the current regulation with modifications or our collective bargaining agreements.  The approval for repeal is being presented to the Committee, in accordance with the Board of Governors Regulation Development Procedures [Effective July 21, 2005].

 

Vice President and General Counsel Stone and Vice President Gottlieb will address the Committee and present this item.

 

Proposed Action: Approval. Motion and second required. 

Item 5 One-Year and Five-Year Capital Requests (PECO) Submissions (Attachment 1, 2

Each year, Florida’s public universities are required to submit a Fixed Capital Outlay Request to the Board of Governors for potential incorporation into the Board of Governors’ budget request.  At the same time, they are expected to submit a Five-Year Capital Outlay request. 

 

The University of North Florida’s Board of Trustees is charged with approving and submitting the PECO plan for the University in consultation with the President. The attached schedule shows UNF’s proposed one-year and five-year capital requests (PECO). Each of the items included in this proposed request is consistent with the University’s goals and master plan.

 

Vice President Shuman will address the Committee and present the PECO submissions. 

 

Proposed Action: Approval. Motion and second required. 

Item 6 Quarterly Budget Report (Attachment 1, 2

The purpose of this item is to present this quarter’s budget report.

 

Vice President Shuman will address the Committee and present the quarterly budget report. 

 

Proposed Action: Review. No motion required. 

Item 7 Treasurer’s Report (Attachment 1, 2

The purpose of this item is a discussion of the current treasurer’s report prepared for review by the Finance and Audit Committee.  This will include information on the ITN for an investment management firm and allocation among current investments. It will also include a discussion on the downgrade of FGIC, the surety bonds for housing and student union. 

 

Vice President Shuman will address the Committee and present the current treasurer’s report. 

 

Proposed Action: Review. No motion required. 

Item 8 Office of Internal Auditing (OIA) Status Update (Attachment 1, 2

The OIA will present an update detailing the status of audit activities including internal audits, advisory services, investigations, follow-up activity and administrative tasks.

 

Mr. Robert Berry, Interim Director for the OIA, will address the Committee and present this status update. 

 

Proposed Action: Review. No motion required. 

Item 9 Review of the Revised Charter for the Office of Internal Auditing (OIA) (Attachment 1, 2

The purpose of this item is to present for review a draft of a charter for OIA. 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: Review. No motion required. 

Item 10 Review of the 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: Review. No motion required. 

Item 11 Adjournment  

Chair Twomey will adjourn the meeting.

Budget Workshop (Attachment 1, 2, 3, 4, 5, 6)