Chair Rad Lovett, Lanny Russell, Hugh Greene, Joan Newton
Chair Lovett called the meeting to order at 1:12 PM.
Chair Lovett addressed the committee and asked for a MOTION to approve minutes from the January 17 meeting. Trustee Russell made a MOTION to approve the January 17 minutes. The MOTION was seconded by Trustee Newton and approved unanimously.
Chair Lovett addressed those in attendance and offered the opportunity for open comments on the items on this agenda. There were no open comments.
Chair Lovett informed the Finance & Audit Committee that this item will be fully discussed and voted on during the plenary session. Vice President Shuman answered questions from the committee and noted that the vote will not affect tuition pre-paid contracts that were locked in before July 1, 2007.
Vice President Shuman presented the review of the findings and recommendations from the State of Florida’s Auditor General for the UNF financial audit for the fiscal year which ended June 30, 2011. The report incorporates all of the DSOs and the university. She explained the audit was clean except for the finding by the auditor that the University should not have granted a loan to MOCA and should seek to collect the outstanding amount owed by MOCA. The University’s response disagreed with the finding and is in the report.
Chair Lovett invited Robert Berry to present the quarterly report for the Office of Internal Auditing. Mr. Berry reported that the department has hired an internal auditor. The decision to hire a third auditor is currently on hold, pending budget decisions. The Campus Security and the Osprey 1Card Audits are completed. The Grade Integrity, Server Security and Fuel Usage Audits are currently on hold. A purchasing card process/investigation is currently in progress. Mr. Berry noted that 85% of all audit items have been closed or resolved as of March 9, 2012. He also stated that 1-3 allegations have been received through the Whistleblower Hotline since a communication was sent to the campus on March 19.
No additional action was required on this agenda item.
Chair Lovett invited Vice President Shuman to present a report on the whistleblower hotline. She explained several measures the University is taking to communicate the importance of the hotline. A compliance officer has been hired to help ensure compliance requirements are being performed. A dedicated telephone number was created. Information regarding the hotline can now be found in various places on the UNF website. A quarterly e-mail communication will go out to the University community. Campus Security Authority are various individuals on campus who have been trained in the Clery Act which requires any information that may be of concern be immediately reported to the police. The Save Our Students (S.O.S.) group consisting of representatives from the Counseling Center, UPD, Housing and Student Affairs, have been formed to provide a proactive approach with students before an issue arises. Additionally, all faculty and staff are required to attend active shooter training and learn about S.O.S. and the Clery Act.
Chair Lovett invited Vice President Shuman to present the review of the quarterly budget report.
Vice President Shuman reported that the Divisions have expended approximately 66% of their funds as of February 29, 2012 and the University should be well within budget limits at the end of the year. To date there have been no budget reductions or call backs from the state. Looking forward, the University will be re-allocating salary savings to summer school. Some positions have been held.
Chair Lovett asked Vice President Shuman to present an overview of the annual treasurer’s report for last year ending September 30, 2011. Vice President Shuman noted that the portfolio is doing well. The University continues to outperform the state funds and utilizes external managers for investments.
Chair Lovett adjourned the meeting at 2:05 AM.
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