Sitou Byll-Cateria, Hugh Greene, Joannie Newton, Wanyonyi Kendrick, Bruce Taylor, Kevin Twomey
Oscar Munoz,Kevin Twomey
Chair Kendrick recognized a quorum and called the meeting to order.
Chair Kendrick asked for a MOTION for approval of minutes from June 8. The MOTION was made and seconded. The minutes were approved as presented.
Chair Kendrick offered opportunity for comments from the public. Upon receiving none, she continued with the meeting.
Chair Kendrick asked Vice President Serwatka to present this item.
Vice President Serwatka stated that this regulation was presented to trustees at the June Board meeting as an emergency regulation, and was now being presented as part of the standard regulation promulgation process. He clarified that following this practice was an effort to meet deadlines for the Board of Governors’ review and approval procedures. He also clarified that there were no necessary amendments to the emergency regulation previously approved.
Chair Kendrick asked for a MOTION for approval of the schedule of tuition and fees regulation. A MOTION was offered and seconded. The MOTION was approved as presented.
Chair Kendrick asked Vice President Shuman to speak about this item.
Vice President Shuman stated that the purpose of this item was to present proposed amendments to the process for appealing parking citations. She clarified that there was a single amendment which added language that would provide Parking Services the ability to determine if the appeal had merit or should be forwarded to the appeals board for a hearing.
Chair Kendrick asked for a MOTION for approval of the amendment to the appealing citations and appellate procedures regulation. A MOTION was made, seconded, and approved.
Chair Kendrick asked President Delaney to address this item.
President Delaney stated that the university had three unions, all with similar proposals. He provided details on each union’s requests.
This item was for information only and required no further action.
Vice President Shuman stated that PECO dollars provided some funding for this project and student fees were bonded for additional dollars. She clarified that the bonding agreement would be presented to the UNF Financing Committee that afternoon, forwarded to the full Board at their October meeting, and presented to the Board of Governors at their December meeting.
This item was presented for information only. No further action was required.
Vice President Shuman stated that these DSOs had not been reviewed by their respective committees. She spoke about the UNFFC audit, noting that it was a clean audit but with two comments. She narrated these comments, stating that changes would be made.
Vice President Shuman talked about the TSI audit, mentioning that it was a clean audit with one comment, which would be rectified next year.
Chair Kendrick asked Mr. Berry, director of the OIA, to speak about this item.
Mr. Berry reported that this year the OIA implemented a campus-wide risk assessment process and integrated information technology audit techniques into all audit engagements. He provided details on the OIA’s resources and updated trustees on his department’s personnel, noting that there was one open position.
Mr. Berry talked about OIA’s utilized resources, mentioning that four in-depth audits, seven fraud allegations and ten management advisory services were completed. He reported that feedback was solicited from clients which revealed a score of 4.62 on a 5-point scale.
Mr. Berry spoke about outstanding issues and follow-up, stating that, as of June 30, one item remained open and one item was in process, noting that management effectively closed or resolved 96 percent of all items.
This item was for information only and required no additional action.
Mr. Berry stated that the intent of this discussion was to convey the audit plan to the Board and demonstrate compliance with applicable standards. He provided details and reviewed activities planned for the 2010-2011 fiscal year. Mr. Berry spoke about the risk assessment, noting that this year’s goal was to have all departments rate their respective areas. He provided a resource allocation summary, mentioning that the vacant position would be addressed this year.
Mr. Berry provided a summary of the proposed audit plan for 2011, listing planned audits which addressed global risks for accounting, cash and cash equivalents, as well as risks within Academic Affairs and Student Affairs.
Chair Kendrick asked for a MOTION for approval of the 2010-2011 audit plan for the OIA. The MOTION was offered and seconded. The MOTION was carried as presented.
Mr. Berry reported that this item was combined with the annual plan. He noted that there was no activity with the hotline.
This item was for information only and required no additional action.
Mr. Berry stated that there were no changes in either of these charters from the previous year.
Chair Kendrick asked for a MOTION for approval of the audit charter for the OIA and the audit charter for the FAC. A MOTION was offered and seconded. The MOTION was approved without abstention.
Chair Kendrick asked Vice President Stone to speak about this item.
Vice President Stone stated that twice each year, the university provided the Board with an update on pending significant litigation. She reported that the there was no significant litigation pending and that the administration would report again in spring.
Vice President Shuman stated that the Board delegated to the President the ability to write off accounts receivable less than $10,000. She reported that the university was trying to collect tuition and fees but had written off some past due parking fines. Vice President Shuman noted that the meeting materials included a summary of accounts receivable write-offs.
Vice President Shuman stated that the university had ended the year with 94 percent of the budget expended. She noted that the four major divisions stayed within their budgets and had remaining dollars because of salary savings. She clarified that central reserves were not fully expended and were progressing according to plans.
Vice President Shuman spoke about auxiliaries, reporting on negative fund balances but noting that some auxiliaries did very well. She listed construction and a tough economy as causes for some negative fund balances, but noted that some auxiliaries were downsizing and looking at new opportunities for the next fiscal year.
This report was provided for information only and required no additional action.
Chair Kendrick asked Vice President Shuman to provide details of this item.
Vice President Shuman stated that the university had more investments than cash. She noted that the university became more diversified over the previous two years. And, interest income was showing some good months, with cash balances about average compared to previous years.
Vice President Shuman provided commentary on UNF’s investment relationships, listing the four major companies. She noted that the average investment total return was 4.3 percent and the benchmark was also 4.3 percent.
This information was provided for review only. No additional action was required.
Chair Kendrick adjourned the meeting.
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