FINANCE COMMITTEE

BOARD OF TRUSTEES

NORTHERN MICHIGAN UNIVERSITY

Agenda for meeting of October 6, 2005

1. Review and approval of previous minutes – August 4, 2005*   (CAR)

Closed Agenda

2. Investment Performance – Mr. David Wetzel, Fund Evaluation Group

· Review of Investment performance

· Review of spending and asset allocation policies

Open Agenda

3. Audits – Mr. Matthew Riipi, Internal Auditor

· Internal Audit function recommendations*

· Update on the Office of the Auditor General Performance Report

· Internal Audits*   (CAR)

§ Computer Security Audit for FY 2001-2002 – 2001/2002-8

§ Audit of Room and Board for 2003-2004 – 2004/2005-5

§ Athletic Ticket Audit – 2004/2005-9

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

§ Cash Handling Procedures – School of Applied Science & Technology – 2004/2005-11

· Financial Statements – Year-ending June 30, 2005*   (CAR)

· Audit firm selection process for Fiscal Year 2006

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

· Fiscal Year 2005-2006 Operating and General Fund Budget Update*

· Cohodas Chair Professorship – unexpended funds*   (CAR)

· Extension of Reduction in Force Plan*   (CAR)

· Key Indicators*

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

· Facilities 5-Year Master Plan Request / Capital Outlay Project Request*   (CAR)

· Update on current University projects*

· Land purchase*   (CAR)

*Back-up information attached

(CAR) = Committee Action Required