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KSU Foundation

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.