Chair Twomey will call the meeting to order.
Chair Twomey will ask for approval of the minutes from the March 17, 2005 meeting.
Proposed Action -- Approval -- Motion and second required.
This is a request to approve new housing rental rates for 2006/2007 allowing the University to use accurate rates in recruitment documents for students who will be entering that year. These increases will also necessitate a change in the rule.Proposed Action -- Approval -- Motion and second required.
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.
Based on discussion at the last FAC meeting, the University has prepared the attached document on internal controls. This document responds to suggestions regarding recent changes in accounting practices in private industry and their adaptations to non-profit and public sector agencies. Proposed Action -- Review -- No motion required.
Attached is the treasurer’s report as of April 30, 2005, for review by the Finance and Audit committee. Proposed Action -- Review -- No motion required.
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.
The committee will review the 2003/2004 Auditor General’s Bright Futures Scholarship Program Operational Audit Report for the State of Florida. UNF had no findings in the statewide report.Proposed Action -- Approval -- Motion and second required.
In early 2003, funds were allocated to renovate Buildings 2 and 3 ($1,198,000). One of the renovations was to accommodate the photo lab. In July 2003, the Board of Trustees unanimously approved reallocating a portion of the funds from this project ($898,000) to the Library expansion to avoid compromising the Library project. The remaining $300,000 was to renovate the existing photo lab.After subsequent evaluation of the departmental growing needs and of the funds necessary to renovate the existing space, it was determined that the existing space would not be an appropriate location for a functional lab. A decision was made to expand the Fine Arts Center and construct a new building on campus to be adjacent to, and mirror, the Ceramics and Sculpture Lab Building at the Fine Arts Center.The Photo Lab Building will be 5,070 GSF and will cost $810,860 to construct. The source of funds are as follows:
An additional amount of $180,000 of E & G funds have been appropriated for equipment for the new expansion.Proposed Action -- Approval -- Motion and second required.
Vice President Shuman will narrate a presentation on UNF's budget.
Proposed Action -- Report -- No motion required.
Chair Twomey will adjourn the meeting
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