FINANCE COMMITTEE

BOARD OF TRUSTEES

Northern Michigan University

Agenda for meeting of October 5, 2006

1. Review and approval of previous minutes for August 2006*   (CAR)

Closed Agenda

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

· Review of Investment Management performance*

· Active versus Passive Investment Management Discussion

Open Agenda

3. Audits – Mr. Matthew Riipi, Internal Auditor

· Internal Audits*   (CAR)

§ Hockey Raffle Audit for 2004 – 2002/2004-13

§ Audit of the Art & Design Department Cooperative for 2004-2005 – 2004/2005-13

§ Audit of the Art & Design Department Cooperative for 2005-2006 – 2005/2006-12

§ Audit of Tuition and Grading for FY 2005/2006 – 2006/2007-1

§ Audit of Payroll for FY 2005/2006 – 2006/2007-2

§ Audit of the University Charter Schools Program – 2006/2007-3

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

§ Louisiana-Pacific Corporation / Newberry – Grant #03-1003

· Financial Statements – Year-ending June 30, 2006*   (CAR)

· Comments and Recommendations from Rehmann Robson*

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

· State Budget Request*   (CAR)

· Financial 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)

· Deferred Maintenance Plan*   (CAR)

6. Other

· Student Managed Investment Fund Policy*   (CAR)

*Back-up information attached

(CAR) = Committee Action Required