ࡱ> xzw` &bjbj 5D  8,D rff(i. qqqqqqq$shv`q #ii##q q(((#  q(#q(([i pZ 0|?s$d'm:kqq0ram|v$|vtp|v ppV (!!qq(Xr####    Agenda Board of Regents Finance and Audit Committee Wednesday, December 7, 2005; *1:00 p.m. 5:00 p.m. Room 106 University Commons University of 91ֱAnchorage Anchorage, Alaska *Times for meetings are subject to modification within the December 7-8, 2005 timeframe. Committee Members: Joseph E. Usibelli, Jr., Committee Chair Mary Hughes Robert Martin Carl Marrs Brian D. Rogers, Board Chair I. Call to Order II. Adoption of Agenda MOTION "The Finance and Audit Committee adopts the agenda as presented. I. Call to Order II. Adoption of Agenda Executive Session Audit A. Executive Session with Internal Audit Director B. Executive Session with External Auditors C. Executive Session with Legislative Auditor IV. New Business - Audit A. External Auditor Comments B. Internal Audit Status Report C. Recently Completed Audit Reports V. Future Agenda Items - Audit Audit Status Report Annual Audit Plan VI. Full Board Consent Agenda - Finance Report on and Acceptance of the University of 91ֱFY05 Audited Financial Statements Ongoing Issues - Finance Presentation of the FY05 Consolidated Fund Financial Statements VIII. New Business - Finance IX. Future Agenda Items - Finance X. Adjourn This motion is effective December 7, 2005." Executive Session - Audit A. Executive Session with Internal Audit Director MOTION "The Finance and Audit Committee of the Board of Regents goes into executive session at _________ 91ֱTime in accordance with the provisions of AS 44.62.310 to encourage full and frank discussion of matters the immediate knowledge of which would have an adverse effect on the finances of the university related to audit matters. The session will include members of the Board of Regents, Internal Audit Director Read, General Counsel Brunner, and such other university staff members as the Audit Chair may designate and will last approximately ____ hour(s). Thus, the open session of the Finance and Audit Committee of the Board of Regents will resume in this room at approximately ____ 91ֱTime. This motion is effective December 7, 2005." (To be announced at conclusion of executive session) The Finance and Audit Committee of the Board of Regents concluded an executive session at _____ 91ֱTime in accordance with AS 44.62.310 discussing matters the immediate knowledge of which would have an adverse effect on the finances of the university and which would affect the reputation or character of a person or persons. The session included members of the Board of Regents, Internal Audit Director Read, General Counsel Brunner, and other university staff members designated by the chair and lasted approximately ______ hour(s). B. Executive Session with External Auditors MOTION "The Finance and Audit Committee of the Board of Regents goes into executive session at _________ 91ֱTime in accordance with the provisions of AS 44.62.310 to encourage full and frank discussion of matters the immediate knowledge of which would have an adverse effect on the finances of the university related to audit matters. The session will include members of the Board of Regents, External Auditors David McCambridge and Daniel Mitchell, General Counsel Brunner, and such other university staff members as the Audit Chair may designate and will last approximately ____ hour(s). Thus, the open session of the Finance and Audit Committee of the Board of Regents will resume in this room at approximately ____ 91ֱTime. This motion is effective December 7, 2005." (To be announced at conclusion of executive session) The Finance and Audit Committee of the Board of Regents concluded an executive session at _____ 91ֱTime in accordance with AS 44.62.310 discussing matters the immediate knowledge of which would have an adverse effect on the finances of the university and which would affect the reputation or character of a person or persons. The session included members of the Board of Regents, External Auditors McCambridge and Mitchell, General Counsel Brunner, and other university staff members designated by the chair and lasted approximately ______ hour(s). C. Executive Session with Legislative Auditor MOTION "The Finance and Audit Committee of the Board of Regents goes into executive session at _________ 91ֱTime in accordance with the provisions of AS 44.62.310 to encourage full and frank discussion of matters the immediate knowledge of which would have an adverse effect on the finances of the university related to audit matters. The session will include members of the Board of Regents, Legislative Auditor Davidson, General Counsel Brunner, and such other university staff members as the Audit Chair may designate and will last approximately ____ hour(s). Thus, the open session of the Finance and Audit Committee of the Board of Regents will resume in this room at approximately ____ 91ֱTime. This motion is effective December 7, 2005." (To be announced at conclusion of executive session) The Finance and Audit Committee of the Board of Regents concluded an executive session at _____ 91ֱTime in accordance with AS 44.62.310 discussing matters the immediate knowledge of which would have an adverse effect on the finances of the university and which would affect the reputation or character of a person or persons. The session included members of the Board of Regents, Legislative Auditor Davidson, General Counsel Brunner, and other university staff members designated by the chair and lasted approximately ______ hour(s). IV. New Business -Audit A. External Auditor Comments Dave McCambridge, KPMG Partner, will discuss with the Finance and Audit Committee, audit related matters and answer questions from committee members. This is an information item; no action is necessary. B. Internal Audit Status Report Reference 11 Dave Read, director of Internal Audit, will review the Audit Status Report found in Reference 11 and answer questions from committee members. This is an information item; no action is necessary. C. Recently Completed Audit Reports Dave Read, director of Internal Audit, will review recently completed audit reports and answer any questions the committee may have. Pat Davidson, Legislative Auditor, will present the University of 91ֱaudit report recently completed by Legislative Audit. This is an information item; no action is necessary. V. Future Agenda Items - Audit Audit Status Report Annual Audit Plan VI. Full Board Consent Agenda - Finance A. Report on and Acceptance of the University of 91ֱFY05 Audited Financial Statements Reference 12 Randy Weaver, controller, and Myron Dosch, financial accounting manager, will present an overview of the annual financial statements for the year ended June 30, 2005. The President recommends that: MOTION "The Finance and Audit Committee recommends that the Board of Regents accepts the FY05 Audited Financial Statements as presented. This motion effective December 7, 2005." Ongoing Issues - Finance A. Presentation of the FY05 Consolidated Fund Financial Statements Reference 13 Associate Vice President Lynch will present an overview of the annual financial statements for the year ended June 30, 2005 for the Consolidated Fund, the fund utilized for investment of the endowments of the University and the University of 91ֱFoundation. External auditors have met with members of the Foundations Finance and Audit Committee, who formally accepted the report. This is an information item; no action is necessary. VIII. New Business Finance IX. Future Agenda Items Finance X. 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"b"Z        d\         @P        d\         "B                         [                         jV       [        '̄                 .%q       v ;                 *ԑ        : h        f66,z8       d\         9% a0!'+RE=xE_w{w']y'LX8@M|Ae/9x6CWOx N@MMxMMP@UnknownGz Times New Roman5Symbol3& z Arial5& zaTahoma?5 z Courier NewCTimesNewRoman;Wingdings"1hJf`t&oI5oI5!4d2qHX?x2AgendaSNPAEJeannie Phillipst                     Oh+'0  < H T `lt|AgendaSNPAENormalJeannie Phillips16Microsoft Office Word@D]"@۬@$SLb@2oI՜.+,D՜.+,H hp  University of Alaska5 Agenda TitleT@ 0H_AdHocReviewCycleID_EmailSubject _AuthorEmail_AuthorEmailDisplayName_ReviewingToolsShownOnce(Draft Agendas for Committees November 5John.Dickinson@alaska.eduJohn Dickinson  !"$%&'()*,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefhijklmnpqrstuvyRoot Entry F?{Data #1Table+vWordDocument5DSummaryInformation(gDocumentSummaryInformation8oCompObjq  FMicrosoft Office Word Document MSWordDocWord.Document.89q