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KSU Foundation

Finance and Audit Committee: February 5, 2013

The Finance and Audit Committee met Feb. 5, 2013. Chairman Kevin Lockett presided. Action taken and topics discussed included the following:

  • Reviewed Board of Regents report finding submitted by BKD and approved the report for recommendation to the full board.
  • Reviewed 2012-13 2nd quarter forecasted operating results.
  • Reviewed and approved modeling of funding underwater endowed accounts.
  • Reviewed a funding model allowing growth of fundraising performance.
  • Received a timeline for FY14 budget planning.
  • Reviewed and approved the KSU Foundation CEO and KSU President and Cabinet privately funded expenses for the first half of FY13.