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Finance and Audit Committee: August 16, 2012

The Governance Committee met on Aug. 16, 2012. Chairman Kevin Lockett presided. Action taken and topics discussed included the following:

  • Advised unaudited 2011-12 operating results improved from June forecast to a $30k surplus
  • Approved 2011 403B Audit Report
  • Reviewed unrestricted assets and future classifications
  • Reviewed background on existing underwater endowment distributions and options to explore within Kansas adoption of UPMIFA
  • Reviewed feasibility study on 2323 Anderson Building and Kimball/Denison