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KSU Foundation

Finance and Audit Committee: May 23, 2012

The Finance and Audit Committee met on May 23, 2012. Chairman Kevin Lockett presided. Action taken and topics discussed included the following:

  • Advised operating forecast has improved by $174,000 due to investment performance
  • Approved 2010-11 IRS Form 990 & 990T
  • Approved Board of Regents Audit for 2010-11
  • Approved 2012-13 operating budget
  • Reviewed peer institutions benchmarking around operating budgets and staff