FINANCE COMMITTEE

                                                          BOARD OF TRUSTEES

                                                NORTHERN MICHIGAN UNIVERSITY

                                                  Agenda for meeting of May 5, 2005

1. Review and approval of previous minutes – December 16, 2004 (attached)   (CAR)

Closed Agenda

2. Investment Performance

· Review of Investment performance – Mr. David Wetzel, Fund Evaluation Group

3. Audits

· Office of the Auditor General – University Audit Update – Mr. Matthew Riipi, Internal Auditor

Open Agenda

4. Audits – Mr. Matthew Riipi, Internal Auditor

· 2005-2006 Proposed Audit Plan   (CAR)

· Internal Audits   (CAR)

§ 2002/2003-7 – Library Audit

§ 2003/2004-14 – Hockey Credit Card Purchases

§ 2004/2005-10 – WNMU-TV/FM Contribution Processing Review

· Michigan Economic Development Corporation (MEDC) Audits  (CAR)

§ Louisiana-Pacific Corporation/Kimberly Clark Corporation – Grant #02-520

§ L’anse Manufacturing – Grant #03-920

§ Peninsula Copper Industries, Inc. – Grant #03-923

· Department of Education – Federal Student Aid Audit Update  (CAR)

5. Budgets – Mr. Gavin Leach, Associate Vice President for Finance and Planning; Mr. Andrew Wasilewski, Associate Vice President for Auxiliary Services; Mr. Carl Holm, Director – Housing and Resident Life

· Fiscal Year 2005 Operating and General Fund Budget Update – Mr. Gavin Leach

· Key Indicators – Mr. Gavin Leach

· 2005-2006 Continuing General Fund Base Budget (CAR) – Mr. Gavin Leach

· 2005-2006 Continuing Designated Fund Base Budget (CAR) – Mr. Gavin Leach

· 2005-2006 Auxiliary Operations Budget (CAR) – Mr. Andy Wasilewski

· 2005-2006 Student Life Budget (CAR) – Mr. Carl Holm

· 2005-2006 Dining Services and Housing and Residence Life Rate Schedule   (CAR) – Mr. Carl Holm

6. Capital Outlay – Dr. Michael J. Roy, Vice President for Finance and Administration

· Revisions to the State’s Capital Outlay Process

· Update on current University projects

7. Other

· Contract Signing Authorization (CAR) – Dr. Michael J. Roy

· Status of General Revenue Bond Financing (CAR) – Ms. Sandra Haavisto, Controller

(CAR) = Committee Action Required