FINANCE COMMITTEE

                                                          BOARD OF TRUSTEES

                                              NORTHERN MICHIGAN UNIVERSITY

                                                 Agenda for meeting of May 4, 2007

1. Review and approval of previous minutes – December 15, 2006 (attached)   (CAR)

Closed Agenda

2. Investment Performance

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

· FEG Advisors Program

Open Agenda

3. Audits – Mr. Matthew Riipi, Internal Auditor

· Internal Auditor Transition

§ Job Description*

§ CPB Audit

· 2007-2008 Proposed Audit Plan*   (CAR)

· Internal Audits*   (CAR)

§ 2006/2007-9 – Purchasing Audit

§ 2006/2007-10 – Audit of Upward Bound

· Michigan Economic Development Corporation Audits*   (CAR)

§ B3CP Computer Grant #04-1253 and Upper Peninsula Consortium Grant #04-1233

4. Budgets – Mr. Gavin Leach, Associate Vice President for Finance and Planning

· 2007-2008 Auxiliary Operations Budget*   (CAR)

· 2007-2008 Student Life Budget and Dining Services and Housing and Residence Life Rate Schedule*   (CAR)

· 2007-2008 Continuing General Fund Base Budget  (CAR)

· 2007-2008 Continuing Designated Fund Base Budget  (CAR)

· Fiscal Year 2007 General Fund Budget Summary*

· Key Indicators*

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

· Heat, Power, Research, and Jobs – A Biomass Fueled Combined Heat and Power (CHP) Cogeneration Plant*

· CHP – Third Party Financing Analysis*

· Update on MGH / NMU Space Discussions

· Agreement to Release Negative Agreement between NMU and MGH   (CAR)

· Easement Agreement between NMU and First Baptist Church   (CAR)

6. Other

· Student Athletic Fee   (CAR)

· Update on Bookstore, Dining Services, and Campus Master Planning Studies

· Tentative Date of August 16, 2007 at Rehmann Robson, Grand Rapids, for Finance Committee meeting to review Draft of 2006-2007 Financial Statements   (CAR)

· Legal Representation Question*

(CAR) = Committee Action Required

*Back-up information attached