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Budget Workshop and Board of Trustees Meeting - June 14, 2011 Agenda Highlights

The June 14, 2011 Board of Trustees meeting will encompass a comprehensive agenda including the proposed FY 2012 budget, an update on the status and prognosis of significant weaknesses identified in the 2010 audit, and the current state of the FY 2011 audit. The meeting will also cover the fiscal year 2011 budget variance report, updates from the OPEB Retirement Board, FMCAT self-assessment checklist, and discussions on regulations regarding the 50% law exclusion for out-of-state and international students.

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Budget Workshop and Board of Trustees Meeting - June 14, 2011 Agenda Highlights

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Presentation Transcript

  1. Budget Workshop Board of Trustees Meeting June 14, 2011

  2. Agenda • Proposed FY 2012 budget • Status, timeline, and prognosis for outstanding material and significant weaknesses cited in the 2010 audit • Status of the FY 2011 audit • Fiscal year 2011 budget variance report • OPEB Retirement Board update • FMCAT Self Assessment Check List • 50% law exclusion for out-of-state and international students • Application to the BOG to exclude Unrestricted General Fund from 50% law calculation

  3. Fiscal Year 2010-11 Variance Report

  4. OPEB Retirement Board Update • First meeting under new structure on April 13, 2011 • Regularly scheduled meetings on the Wednesday following the first Board of Trustee meeting of the month • Approved bylaws • Approved investment policy • Reviewed new OPEB structure • Monte Carlo simulations Simulation

  5. OPEB Structure

  6. Cash Flow Structure

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