University Of Florida

The committee discussed several regulatory changes scheduled for the next meeting, including updates to IRS compliance, transcript fee policies, alcohol sales at the museum, transportation access fees, and public access to student email addresses. Academic proposals reviewed included a potential undergraduate program naming option, the elimination of obsolete graduate teaching degrees, and curriculum changes for the B.S. in Nuclear Engineering. Proposed increases in housing rental rates were examined, alongside updates on mandatory student health insurance, institutional tracking tools, e-learning initiatives, merit scholar budgets, and dean searches. The committee also covered admissions data, freshman appeal processes, and various new business items including degree credit requirements, program development plans, and emergency communication testing.

The meeting addressed several action items, including the adoption of amended Enhanced Governance Standards to incorporate stakeholder feedback and the appointment of new members to the Citrus Research Development Foundation Board and the Southwest Florida & Education Center Foundation Board. Additionally, the committee ratified amendments to the Collective Bargaining Agreement between the University and AFSCME, focusing on wage provisions and a minimum wage increase. A legislative update was provided regarding university priorities, funding requests for capital projects, and the upcoming legislative session timeline.

The committee reviewed and approved the implementation of an Electronic Funds Transfer Policy, as required by Florida Statutes for accounting and control procedures. Additionally, the committee approved changes to the University of Florida Investment Policy to provide the university with expanded options for investing funds in excess of current obligations, while ensuring adequate protection against losses.

The committee reviewed internal audit investigations, discussed the creation of an overall compliance function, and examined updates on external audits including financial and federal audits. Key action items included the approval of the University of Florida Annual Financial Report. Informational items covered the Identity Theft Prevention Program, completion of internal audit projects, quarterly follow-up on audit comments, and audits of affiliated organizations.

The committee meeting addressed the approval of a detailed revenue and expense budget for the Transportation and Parking Auxiliary for the 2016-17 fiscal year to comply with bond covenants. Additionally, the committee approved a proposal to rename the Herbert Wertheim Engineering Building to the Herbert Wertheim Laboratory for Engineering Excellence. Informational presentations were provided regarding the quarterly financial update, an update on ongoing construction and maintenance projects across the campus, and a report on the status of endowment investments managed by UFICO.