天美视频

Board Meetings

    天美视频 BoR: Audit Committee, Feb. 27, 2025

    1:00 p.m. EST via Teams

    I. CALL TO ORDER

    Chair Cox called the Audit Committee meeting to order on February 27, 2025 at 1:00 p.m. EST. The roll was called, and a quorum was established.

    Attendance

    Chair Russell Cox (Present)
    Vice Chair Hamilton (Absent)
    Mr. Chris Girdler (Absent)
    Mr. Barry Martin (Present)
    Ms. Candace McGraw (Present)
    Ms. Raeanne Powers (Present)
    Ms. Audra Shouse (Present)
    Mr. James Lee Stevens (Present)
    Mr. Marty Sutherland (Absent)

    II. APPROVAL OF MINUTES

    Regent McGraw made a motion to approve the minutes of the November 26, 2024 Audit Committee meeting. Regent Martin seconded the motion. There were no objections, and the motion passed.

    III. Progress on Forensic Audit Response

    Chief Financial Officer Todd Kilburn stated his team is working on a Corrective Action Plan to address the  recommendations from the Forensic Audit. Various committees and workgroups have been created. Mr. Kilburn indicated he would have quarterly written reports for the Committee on this topic in the future. The Committee was assured that the full Board would also be updated.

    IV. INTERNAL AUDIT FOR THE FISCAL YEAR 2024-2025 Q2

    Ms. Jodi Renn from Dean Dorton reviewed the Q2 report. No high risk issues were identified. There were three moderate risk issues and fifteen low risk items. There are sixteen action plans in progress but not yet due and three action plans that have been fully implemented.

    V. AUDIT COMMITTEE CHARTER 

    Ms. Renn reviewed the amended Audit Charter. Ms. Renn indicated the changes are a requirement of their governing organization, the Institute of Internal Auditors. The changes further clarify that Dean Dorton is independent and documents their authority. It also outlines a peer review of Dean Dorton鈥檚 work that must be conducted periodically.

    Regent Stevens made a motion to approve the Audit Charter. Reget McGraw seconded the motion. The motion passed.

    VI. NEW BUSINESS

    Dr. Quarles previewed his report to the Board. Dr. Quarles congratulated Madisonville Community College as the only Bellwether Award winner from the State of Kentucky.

    VII. ADJOURNMENT

    Regent Stevens made a motion to adjourn the meeting. Reget McGraw seconded the motion. The motion passed by consensus. The meeting adjourned at 1:33 p.m. EST.