April 19, 2006

Board Meeting Summary

Wells Fargo Place
Saint Paul, Minnesota

THIS SUMMARY IS NOT THE OFFICIAL MINUTES OF THE MEETING

FY 2007 Revenue Fund Fees and Finance Plans
The Board of Trustees approved the FY 2007 finance plans and associated fees for residence hall/dining services, student unions, and parking facilities of the Revenue Fund, and the construction of the Minnesota State University Kise Dining Service project from Revenue Fund internal operating funds and bond proceeds (click here to view the action item).

Enterprise Information Technology Investment Strategic Plan
The Board of Trustees endorsed the findings and recommendations of the Enterprise Information Technology Investment Strategic Plan and requested the Chancellor incorporate same into the action plan for the FY2007 work plan. The Board further requests periodic updates of the progress made in implementation of the plan (click here to view the action item).

Systemwide Diversity Plan
The Board of Trustees supported inclusion of the proposed systemwide Diversity Plan in the System Work Plan (click here to view the action item).

Appointment of External Auditors for Six Individual College and University Financial Statement Audits
The Board of Trustees approved the appointment of three public accounting firms, Larson, Allen, Weishair & Co., LLP, Kern, DeWenter, Viere, Ltd., and Virchow, Krause and Company, LLP to serve as external auditors for six colleges and universities. The firm of Larson, Allen, Weishair & Co., LLP, will serve as external auditor for Century College. The firm of Kern, DeWenter, Viere, Ltd., will serve as external auditor for Rochester Community and Technical College and Southwest Minnesota State University. The firm of Virchow, Krause and Company, LLP will serve as external auditor for Hennepin Technical College, Metropolitan State University and Minneapolis Community and Technical College. The scope of these audit services shall include an annual audit of the general financial statements of the above mentioned colleges and universities. The term of these appointments begins upon execution of contracts and shall continue to fulfill external auditing needs for the three fiscal years from July 1, 2005 to June 30, 2008 (click here to view the action item).

The Board of Trustees authorized the Executive Director of Internal Auditing and the Vice Chancellor/Chief Financial Officer to negotiate contracts with Larson, Allen, Weishair & Co., LLP, consistent with the terms contained in its proposal dated February 24, 2006, Kern DeWenter, Viere, Ltd., consistent with the terms contained in its proposal dated February 14, 2006, and Virchow, Krause and Company, LLP, consistent with the terms contained in its proposal dated February 28, 2006.

Proposed Amendment to Policy 3.4 Admissions
The Board of Trustees approved the proposed amendment to Policy 3.4 Admissions.

Proposed Policy 3.33 College Level Examination Program
The Board of Trustees approved the proposed Policy 3.33 College-Level Examination Program (CLEP) Credit.

Proposed Amendment to Policy 3.15 Advanced Placement
The Board of Trustees approved the proposed amendment to Policy 3.15 Advanced Placement.

Security Policy 5.23
The Board of Trustees approved the proposed Policy 5.23 Security and Privacy of Information Resources.

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