University of North Florida
Board of Trustees
Finance and Audit Committee

Meeting
September 28, 2006
University Center at 8:30 a.m.

Agenda

 

Item 1 Call to Order

Chair Twomey will call the meeting to order.

Item 2 Minutes (May 18, 2006)

Chair Twomey will address the committee and ask for approval of the Finance and Audit Committee’s May 18, 2006 minutes.

Proposed Action: Approval. Motion and second required.

Item 3 Open Comments

Chair Twomey will address the committee and offer opportunity for open comments.

Item 4 Revised Educational Plant Survey

In working with the Board of Governors staff on our proposal to acquire AOL, the BOG staff requested that we resubmit our most recent Educational Plant Survey, reflecting the additional space that we would gain from purchase of the AOL building. This survey documents how much space we estimate that we would have in ten particular categories (e.g. classrooms, teaching labs, and offices) in comparison to the BOG’s estimates of our space needs for our 2012-2013 FTE targets.

Vice President Shuman will address the committee and present the Revised Educational Plant Survey (Form B).

Proposed Action: Approval. Motion and second required.

Item 5 Audit Plan for the 2006-2007 Fiscal Year

The purpose of this discussion is to present to the committee the proposed audit plan for the 2006-2007 fiscal year.

Dr. Marty Khan will address the committee and present an audit plan for the 2006-2007 fiscal year.

Proposed Action: Approval. Motion and second required.

Item 6 Audit Follow-up Update

The purpose of this discussion is to provide an audit follow-up to the Finance and Audit Committee on UNF’s progress in meeting the plan of action outlined in the University’s response to the December 2005 Operational Audit by the Auditor General’s Office.

Dr. Marty Khan will address the committee and present an audit follow-up update.

Proposed Action: Review. No motion required.

Item 7 Training and Service Institute Audit

Each year the Board of Trustees must review and approve the audit conducted on UNF’s direct support organization, the University of North Florida Training and Service Institute. This audit has been reviewed by the board and appropriate committee for the organization 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. No motion required.

Item 8 UNF Foundation, Inc. Audit

Each year the Board of Trustees must review and approve the audit conducted on UNF’s direct support organization, the University of North Florida Foundation. This audit has been reviewed by the board and appropriate committee for the organization 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 Foundation Audit.

Proposed Action: Review. No motion required.

Item 9 UNF Financing Corporation Audit

Each year the Board of Trustees must review and approve the audit conducted on UNF’s direct support organization, the University of North Financing Corporation Audit. This audit has been reviewed by the board and appropriate committee for the organization 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 Financing Corporation Audit.

Proposed Action: Review. No motion required.

Item 10 Accounts Receivable Write-offs

Section 1010.03, Florida Statutes, authorizes the University’s Board of Trustees to charge off or settle uncollectible accounts. At their January 26, 2006 meeting, the Board of Trustees delegated the authority for accounts receivable write-offs under $10,000 to the President of the University. The President will annually report the status of accounts receivable charge-offs to the Board.

Vice President Shuman will address the committee and present an update on the University’s accounts receivable write-offs for June 30, 2006.

Proposed Action: Review. No motion required.

Item 11 Treasurer’s Report

This item attaches the annual treasurer’s report for year ending June 30, 2006.

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

Proposed Action: Review. No motion required.

Item 12 Quarterly Budget Report

This item attaches this quarter’s budget report, which has been prepared for review by the Finance and Audit Committee.

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

Proposed Action: Review. No motion required.

Item 13 Litigation Update

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

Vice President Stone will address the committee and present an update on pending litigation.

Proposed Action: Review. No motion required.

Item 14 Adjournment

Chair Twomey will adjourn the meeting.