University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
October 18, 2011
University Center at 1:15 p.m.

Agenda

Item 1 Call to Order

Chair Munoz will call the meeting to order.

Item 2 Minutes (June 21, 2011)

Chair Munoz will address the committee and ask for a MOTION to approve minutes from June 21.

 

Proposed Action: Approval. Motion and second required.

Item 3 Open Comments

Chair Munoz will address those in attendance and offer opportunity for open comments on the items on this agenda.

 

Open Comments: No motion required.

Item 4 Schedule of Tuition and Fees Regulation (Attachment 1, 2)

As has been the practice in previous years, the schedule of tuition and fees regulation was presented to the Board of Trustees as an emergency regulation in June, and is again coming to the board through the standard regulation promulgation process. The purpose of this practice has been to meet deadlines for the Board of Governors’ review and approval procedures.

 

To this end, the Board of Trustees approved the schedule of tuition and fees emergency regulation at the June 2011 meeting. And the purpose of this item is to present the proposed amendments to the 2011-2012 tuition and fees regulation for the standard promulgation process.

 

Vice President Serwatka will address the committee and present the schedule of tuition and fees regulation.

 

Proposed Action: Approval. Motion and second required.

Item 5 Direct Support Organizations’ Audits: (1) UNF Foundation, Inc., (2) UNF Training & Services Institute, Inc., (3) UNF Financing Corporation, Inc., and (4) MOCA, Jacksonville (Attachment 1, 2, 3, 4, 5)

The purpose of this item is to present, for review, audits for UNF’s DSOs, including the (1) UNF Foundation, Inc., (2) UNF Training & Service Institute, Inc., (3) UNF Financing Corporation, Inc., and (4) MOCA, Jacksonville.

 

Vice President Shuman will address the committee and present this item.

 

Proposed Action: Report. No motion required.

Item 6 2010-2011 Office of Internal Auditing Annual Report (Attachment 1, 2)

The purpose of this item is to present a review of the 2010-2011 fiscal year audit activities.

 

Mr. Robert Berry, Director of the Office of Internal Auditing, will address the committee and present the annual report.

 

Proposed Action: Report. No motion required.

Item 7 2011-2012 Audit Plan for the Office of Internal Auditing (Attachment 1, 2)

The purpose of this item is to present for approval the proposed 2011-2012 fiscal year Office of Internal Auditing audit plan.

 

Mr. Robert Berry will address the committee and present the proposed audit plan. 

 

Proposed Action: Approval. Motion and second required.

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

The purpose of this item is to present a status update for this fiscal year’s audit activities.

 

Mr. Robert Berry will address the committee and present the update.

 

Proposed Action: Report. No motion required.

Item 9 Audit Charter for the Office of Internal Auditing (Attachment 1, 2)

The purpose of this item is to conduct the annual review of, and re-ratification of the charter for the Office of Internal Auditing. This annual review is consistent with the Institute of Internal Auditors’ guidelines.

 

Mr. Robert Berry will address the committee and present the proposed charter.

 

Proposed Action: Approval. Motion and second required.

Item 10 Audit Charter for the Finance and Audit Committee (Attachment 1, 2)

The purpose of this item is to provide the annual review of and re-ratification of the current charter for the Finance and Audit Committee. This annual item is consistent with the Institute of Internal Auditors’ guidelines.

 

Mr. Robert Berry will address the committee and present the proposed charter.

 

Proposed Action: Approval. Motion and second required.

Item 11 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 report annually 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, 2011.

 

Proposed Action: Report. No motion required.

Item 12 Quarterly Budget Report (Attachment 1, 2, 3, 4, 5, 6, 7)

This item provides a review of this quarter’s budget report.

 

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

 

Proposed Action: Report. No motion required.

Item 13 Treasurer’s Report (Attachment 1, 2)

This item provides for review an overview of the annual treasurer’s report for year ending June 30, 2011.

 

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

 

Proposed Action: Report. No motion required.

Item 14 Adjournment

Chair Munoz will adjourn the meeting.