Finance and Audit Committee
The Finance and Audit Committee met on May 7, 2013. Chairman Kevin Lockett presided. Action taken and topics discussed included the following:
- Reviewed 2012-13 3rd quarter forecasted operating results.
- Approved a revised funding model allowing growth of fundraising performance.
- Approved the FY 14 operating budget.
- Approved freezing future of funding of the underwater reserve.
- Received a timeline for FY14 budget planning.
- Reviewed and approved the KSU Foundation CEO and KSU President and Cabinet privately funded expenses for the 3rd quarter of FY13.
- Outlined Audit status and 3 year fee structure with BKD.