University of North Florida
Board of Trustees
Finance and Audit Committee

  • Meeting
January 17, 2012
University Center at 1:00 p.m.

Agenda

Item 1 Call to Order 

Chair Munoz will call the meeting to order.  

Item 2 Minutes (October 18, 2011) 

Chair Munoz will address the committee and ask for a MOTION to approve minutes from October 18, 2011. 

 

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 Employee Debt Collection Regulation  

The purpose of this item is to present, for approval, a newly proposed employee debt collection regulation. This regulation establishes procedures whereby the university may collect on delinquent debts owed to the university by university employees, excluding educational loans. 

 

The regulation was developed with oversight from Administration and Finance. 

 

Vice President Shuman will address the committee and present the regulation. 

 

Proposed Action: Motion and second required.  

Item 5 University of North Florida Operational Audit  

The purpose of this item is to provide the Board of Trustees with a summary (findings and management’s response) of the operational audit for the fiscal year ended June 30, 2011.  

 

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

 

Proposed Action: No motion required.  

Item 6 Independent Accountant’s Report on Applying Agreed-Upon Procedures – Intercollegiate Athletics Program  

The purpose of this item is to provide the Board of Trustees with an independent accountant’s report on the financial statements for Athletics in accordance with guidelines set forward by the National Collegiate Athletic Association.  

 

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

 

Proposed Action: No motion required.  

Item 7  Return of Organization Exempt from Income Tax, Form 990: (1) UNF Training and Services Institute, Inc., (2) UNF Financing Corporation, (3) UNF Foundation, Inc., and (4) MOCA, Jacksonville  

This item is in response to the Board of Governors’ requirement that the Board of Trustees review the university’s direct service organizations federal Internal Revenue Service Return of Organization Exempt from Income Tax form (Form 990). 

 

Vice President Shuman will address the committee and present the 990 forms. 

 

Proposed Action: No motion required.  

Item 8 Audit Charter for the Office of Internal Auditing  

The purpose of this item is to conduct the annual review of, and reaffirmation 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 9 Audit Charter for the Finance and Audit Committee  

The purpose of this item is to provide the annual review of and reaffirmation 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 10 Office of Internal Auditing Quarterly Report  

The purpose of this item is to present a report to the Board of Trustees for this quarter’s activities in the Office of Internal Auditing. 

 

Mr. Robert Berry, director, Office of Internal Auditing, will address the committee and present the update. 

 

Proposed Action: No motion required.  

Item 11 Quarterly Budget Report  

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 12 Treasurer’s Report  

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

 

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

 

Proposed Action: Report. No motion required. 

Item 13 Adjournment  

Chair Munoz will adjourn the meeting.