MINUTES OF THE BOARD OF GOVERNORS RISK MANAGEMENT AND AUDIT COMMITTEE MISSOURI STATE
UNIVERSITY
FEBRUARY 23, 2018, 7:00 A.M.
Present - Mr. Gregory Spears, Committee Chair
Mr. Craig Frazier, Committee Member
Ms. Carol Silvey, Committee Member
Ms. Carrie Tergin, Committee Member
Also Present - Mr. Clifton Smart III, President
Dr. Jim Baker, Vice President for Economic Research and Development & International
Programs
Ms. Kristen Bright, BKD Director
Ms. Donna Christian, Director of Internal Audit and Compliance
Ms. Amelia Counts, Governor
Ms. Kelly Dalton, Manager, Accounts Payable and Budgeting, Financial Services
Mr. Tyree Davis IV, Student Governor
Mr. Ryan DeBoef, Chief of Staff and Assistant to the President for Governmental Relations
Ms. Rachael Dockery, General Counsel
Dr. Frank Einhellig, Provost
Mr. Steve Foucart, Chief Financial Officer
Ms. Virginia Fry, Governor
Mr. Gabriel Gore, Governor
Ms. Kim Hamm, BKD Partner
Ms. Casey Hunt, Senior Associate Director Athletics
Mr. Tom Johnson, Director of Safety and Transportation
Mr. Robert Martin, Information Security Officer
Mr. Kyle Moats, Director of Athletics
Mr. Jeff Morrissey, Chief Information Officer
Mr. Wes Pratt, Chief Diversity Officer and Vice President for Diversity and Inclusion
Dr. Helen Reid, Dean of the College of Health and Human Services
Mr. Kendall Seal, Governor
Ms. Suzanne Shaw, Vice President for Marketing and Communications
Ms. Kristan Gochenauer, Secretary to the Board
1. Roll Call – Mr. Gregory Spears, Committee Chair, called the Risk Management
and Audit Committee meeting to order at 7:00 a.m. on Friday, February 23, 2018, on
the Missouri State University campus.
2. Approval of Minutes – Mr. Spears mentioned that the first item of business was
the approval of minutes from the December 14, 2017 meeting. Ms. Carol Silvey made
a motion, seconded by Ms. Carrie Tergin.
Motion passed unanimously.
3. Review of NCAA Independent Accountant’s Report on Applying Agreed-Upon Procedures – Mr. Steve Foucart, Chief Financial Officer, introduced Ms. Kim Hamm, BKD Partner, and Ms. Kristen Bright, BKD Director. Ms. Hamm and Ms. Bright reviewed the NCAA Independent Accountant’s Report on Agreed-Upon Procedures. The review included University revenues, in which no line item exceptions were noted and expenses, where exceptions were identified secondary to student-athlete financial aid initial reporting through compliance software.
4. Information Security External Assessment Update – Mr. Jeff Morrissey, Chief Information Officer, and Mr. Robert Martin, Information Security Officer, provided an overview of the information security external assessment expectations and timeline. Prior assessments took place in 2008 and 2013. The Risk Management and Audit Committee recommended moving forward with the assessment, which will be performed by BKD. A motion was made by Ms. Silvey and seconded by Mr. Craig Frazier.
Motion passed unanimously.
BKD will be asked to do a presentation on the assessment results at the May 2018 meeting.
5. Closed Meeting – It was determined that the Board of Governors needed to meet in a closed session to consider items of business provided in the Revised Statutes of Missouri. Mr. Spears asked if a resolution authorizing a closed meeting of the Board was prepared. Thereupon, the following resolution was presented for consideration:
BE IT RESOLVED by the Board of Governors for Missouri State University that a closed meeting, with closed records and closed vote, be held during a recess of the February 23, 2018, Risk Management and Audit Committee meeting of the Board of Governors to consider items of business pursuant to:
A. R.S.Mo. 610.021(11) and (12). “Specifications for competitive bidding…;” and “Sealed bids and related documents…;”
B. R.S.Mo. 610.021(17). “Confidential or privileged communications between a public governmental body and its auditor,....”
Ms. Tergin moved the approval of the resolution and Ms. Silvey seconded the motion.
A roll call vote on the motion was as follows: those voting in favor – Governors Frazier,
Silvey, Spears and Tergin; those voting against – none.
Mr. Spears declared the resolution passed unanimously. The open meeting was recessed
at 7:46 a.m. to go into closed session.
The open meeting was reconvened at 8:26 a.m.
6. Adjournment – Mr. Spears adjourned the meeting at 8:26 a.m., on the motion of Mr. Frazier, the second of Ms. Silvey, and the unanimous approval of the committee.
Kristan Gochenauer
Secretary to the Board