University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
March 17, 2005
University Center at 9:00 a.m.

Agenda

Item 1 Call to Order

Chair Twomey will call the meeting to order.

Item 2 Approval of Minutes (January 13, 2005)

Chair Twomey will ask for approval of the minutes from the January 13, 2005 meeting.

 

Proposed Action -- Approval -- Motion and second required.

Item 3 Financial Statements Audit Report

The Auditor General’s 2003/2004 Financial Statement Audit Report is presented for information.

Proposed Action -- Information -- No motion required.

Item 4 Federal Awards Audit

The committee will review the preliminary and tentative audit findings and recommendations for UNF’s 2003/2004 Auditor General’s Federal Awards Audit. The full report, covering all federal awards administered by the State of Florida, is anticipated to be released prior to the board meeting. If so, copies will be made available at that time.

Proposed Action -- Review -- No motion required.

Item 5 Charter and Responsibilities for the Office of Internal Auditing

In order to align with current practices within the state university system after devolution, a new charter and responsibilities have been drafted for the Inspector General’s Office, which would be renamed the Office of Internal Auditing accordingly. The charter and responsibilities are being presented for approval by the Finance and Audit committee and recommendation to the full Board.

Proposed Action -- Approval -- Motion and second required.

Item 6 Child Development Research Center Fees for 2005-2006

Each year the University reassesses the fees associated with its Child Development and Research Center to determine what, if any, increases are needed to keep the Center operational.

This year the University recommends the increases in fees shown on the attached schedule.

Proposed Action -- Approval -- Motion and second required.

Item 7 Signature Authority

The committee approved giving five additional employees access to the University’s on-line system with its primary bank at its December 9, 2004 meeting. Following some discussion as to limits, this recommendation was approved by the full board at its January 20, 2005 meeting.

The purpose of this item is to provide a schedule detailing limits and secondary approval requirements for your information and to report that one of the employees, Margee Warden, is transferring to another department and her name is being removed from the on-line system.

Proposed Action -- Information -- No motion required.

Item 8 Quarterly Budget Report

As discussed in previous BOT and committee meetings, the Administration and Finance vice president’s office will provide quarterly reporting of University finances. This quarter’s report has been prepared for review by the Finance and Audit committee.

 

Proposed Action -- Review -- No motion required.

Item 9 Treasurer's Report

Attached is the treasurer’s report for the period of October through December 2004 for review by the Finance and Audit committee.

Proposed Action -- Review -- No motion required.

Item 10 Master Plan Update

The state universities are statutorily required to develop a ten-year Campus Master Plan depicting the physical development of the campus. Every five years the plan is updated reflecting the ten-year look ahead.

This 2005-2015 update began in April 2004 with a presentation to the Board of Trustees at a planning workshop. During the summer months, planning sessions were held to address three major projects: future student housing; location verification for Social Sciences; and location for the new student union. Eight focus groups involving a broad based group of students, faculty, and staff have interacted with the planners from September through January.

This Master Plan presentation will update the Trustees prior to seeking agency review starting in April. Agency review involves sending the plan to local planning agencies for their review and comment. Both BOT subcommittees will be updated at their May meetings and final approval will be sought at the June 16 Board of Trustees meeting.

Proposed Action -- Review -- No motion required.

Item 11 Adjournment

Chair Twomey will adjourn the meeting.