Minutes of the
Board of Governors Risk Management and Audit Committee
Missouri State University
Thursday, December 10, 2020, 8:30 a.m.
https://us02web.zoom.us/j/87459344820
Present
- Ms. Amelia “Amy” Counts, Committee Chair
- Mr. Craig Frazier, Committee Member
- Ms. Carol Silvey, Committee Member
- Ms. Carrie Tergin, Committee Member
Also Present
Mr. Clifton Smart III, President
Mr. Matt Cash, Audit Director, BKD
Mr. Ryan DeBoef, Chief of Staff and Assistant to the President for Governmental Relations
Ms. Rachael Dockery, General Counsel and Chief Compliance Officer
Mr. Briar Douglas, Student Governor
Mr. Steve Foucart, Chief Financial Officer
Mr. Gabriel Gore, Governor
Ms. Kim Hamm, Partner, BKD
Ms. Beverly Miller Keltner, Governor
Mr. Kyle Miller, Audit Manager, BKD
Ms. Lynn Parman, Governor
Ms. Suzanne Shaw, Vice President for Marketing and Communications
Ms. Rowena Stone, Secretary to the Board
Mr. Chris Waters, Governor
1. Roll Call – Ms. Amy Counts, Committee Chair, called the Risk Management and Audit Committee meeting to order at 8:32 a.m. on Thursday, December 10, 2020, in the Bond Learning Center Ballroom at the Missouri State University Darr Agriculture Center. The meeting was livestreamed via Zoom webinar.
2. Independent Audit Fiscal Year 2020 and Management Letter Review – Ms. Counts called upon Mr. Steve Foucart, Chief Financial Officer, to introduce the BKD audit team. Ms. Kim Hamm, Partner, Mr. Kyle Miller, Audit Manager, and Mr. Matt Cash, Audit Director, of BKD discussed how the audit process works, the timeline, federal testing, risk-based approach, and compliance. BKD advised the university had a clean audit with no reportable matters related to alternative accounting treatment or auditor’s judgements about the quality of the entity’s accounting principles. There were no material weaknesses or significant deficiencies reported during the audit.
3. Approval of Minutes – Ms. Counts returned to item II on the agenda, the approval of minutes from the August 3, 2020, meeting. Mr. Craig Frazier made a motion, which was seconded by Ms. Carol Silvey.
Motion passed unanimously.
4. Adjournment – With no further business to be discussed, Ms. Counts adjourned the meeting at 9:08 a.m., on the motion of Ms. Carrie Tergin, the second of Mr. Frazier, and the unanimous approval of the committee.
Rowena Stone
Rowena Stone
Secretary to the Board