University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
September 18, 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 (June 17, 2008

Chair Twomey will address the Committee and ask for approval of the minutes from the Finance and Audit Committee’s June 17, 2008 meeting.

 

Proposed Action: Approval. Motion and second required. 

Item 3 Open Comments 

Chair Twomey will address those in attendance and offer opportunity for open comments.

 

Open Comments: No motion required. 

Item 4 Housing Rental Rates for 2009-2010 (Attachment 1, 2, 3, 4, 5)

This is a request to approve new housing rental rates for 2009-2010, allowing the University to use accurate rates in recruitment documents for students who will be entering that year. These rates have been reviewed by students.

 

All fee increases were recommended by the Auxiliary Budget Committee and endorsed by the President.

 

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

 

Proposed Action: Approval. Motion and second required. 

Item 5 Newly Proposed Purchasing Regulations (Overview; Bonding  Requirements; Notice and Protest Procedures) (Attachment 1, 2, 3, 4)

This set of proposed purchasing regulations is being presented to the Finance and Audit Committee for review and recommendation to the full Board. These regulations will be effective immediately upon

approval by the Board of Trustees.

 

Vice President Shuman will address the Committee and present the proposed purchasing regulations.

 

Proposed Action: Approval. Motion and second required, separately for each regulation. 

Item 6 Repeal of Rule (Administration and Finance Purchasing Program  (Attachment 1, 2)

This rule (regulation) is being presented for repeal. It will be replaced with newly proposed regulations.  The approval for repeal is being presented to the Committee, in accordance with the Board of Governors Regulation Development Procedures.

 

Vice President Shuman will address the Committee and present the repeal.

 

Proposed Action: Approval. Motion and second required. 

Item 7 Supplemental Educational Plant Survey (Attachment 1, 2, 3, 4)

The University requests permission to submit a supplemental Educational Plant Survey which addresses changes in our construction and building program.  

 

Vice President Shuman will address the Committee and present the supplemental Educational Plant Survey.

 

Proposed Action: Approval. Motion and second required. 

Item 8 Training and Service Institute Audit (Attachment 1, 2)

Each year the Board of Trustees must review the audit conducted on the UNF Foundation, Inc., one of the University’s direct support organizations. This audit has been reviewed by the Training and Service Institute board and its appropriate committees and is being brought to the Finance and Audit Committee for its review as part of the Board of Trustees’ oversight responsibility.

 

Vice President Shuman will address the Committee and present the Training and Service Institute Audit.

 

Proposed Action: Review and oversight. No motion required. 

Item 9 UNF Foundation, Inc. Audit (Attachment 1, 2)

Each year the Board of Trustees must review the audit conducted on the UNF Foundation, Inc., one of the University’s direct support organizations. This audit has been reviewed by the Foundation board and its appropriate committees and is being brought to the Finance and Audit Committee for its review as part of the Board of Trustees’ oversight responsibility.

 

Vice President Shuman will address the Committee and present the UNF Foundation, Inc. Audit.

 

Proposed Action: Review and oversight. No motion required. 

Item 10 UNF Financing Corporation Audit (Attachment 1, 2)

Each year the Board of Trustees must review the audit conducted on the UNF Financing Corporation, one of the University’s direct support organizations. This audit has been reviewed by the Financing Corporation board and its appropriate committees and is being brought to the Finance and Audit Committee for its review as part of the Board of Trustees’ oversight responsibility.

 

Vice President Shuman will address the Committee and present the UNF Financing Corporation Audit.

 

Proposed Action: Review and oversight. No motion required. 

Item 11 2007-2008 Office of Internal Auditing Annual Report (Attachment 1, 2)

The purpose of this item is to present a summary of the 2007-2008 fiscal year audit activities.

 

Mr. Robert Berry will address the Committee and present the annual report.

 

Proposed Action: Review. No motion required. 

Item 12 2008-2009 Audit Plan for the Office of Internal Auditing, and Status Update (Attachment 1, 2, 3)

The purpose of this item is to present the 2008-2009 fiscal year Office of Internal Auditing Audit Plan which was tentatively approved at the June 2008 meeting. This item will also include a status update.

 

Mr. Robert Berry will address the Committee and present the audit plan and a status update.

 

Proposed Action: Approval. Motion and second required. 

Item 13 Accounts Receivable Write-offs (Attachment 1, 2)

Florida Statutes authorize the University’s Board of Trustees to charge off or settle uncollectible accounts. The Board delegated the authority for accounts receivable write-offs under $10,000 to the President of the University. As part of this delegation, the President will annually report the status of accounts receivable charge-offs to the Board.

 

As the President’s representative on this issue, Vice President Shuman will address the Committee and present an update on the University’s accounts receivable write-offs for June 30, 2008.

 

Proposed Action: Discussion. No motion required. 

Item 14 Treasurer’s Report (Attachment 1, 2)

This item provides an overview of the annual treasurer’s report for year ending June 30, 2008. Also provided will be clarification on the risks of staying in the SBA versus the University’s own investing.

 

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

 

Proposed Action: Review. No motion required. 

Item 15 Litigation Update (Attachment 1)

Twice each year the University provides the Board of Trustees with an update on the University’s pending significant litigation.

 

Mr. Chris Wrenn, Associate General Counsel, will address the Committee and present an update on currently pending significant litigation.

 

Proposed Action: Update. No motion required. 

Item 16 Quarterly Budget Report (Attachment 1, 2)

This item provides for a review of 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 17 Adjournment 

Chair Twomey will adjourn the meeting.