Board of regents accepts audits of university

Clean audits were accepted by the Southeast Missouri State University Board of Regents during its meeting Wednesday at Academic Hall.

Presented by the certified public accounting firm of Rubin Brown of St. Louis, audits included the annual financial report, the A-133 Single Audit Report on the Schedule of Expenditures of Federal Awards and the System Facilities Financial Report, all for the year ending June 30. Ted Williamson, a partner with Rubin Brown, said an unmodified, or clean, opinion was issued on the university's finances.

Jeffrey Winter, a partner with Rubin Brown, said this is the last year of the firm's engagement with the university. Winter thanked the management and their staff for help during the audit.

Vice president for finance and administration Kathy Mangels said Southeast has $104 million in its general operating budget and tries to keep 10 percent of that in a contingency fund for times when it might be needed. Mangels said the university had $10.9 million in its unrestricted contingency fund as of June 30.

In a separate matter, regents approved an incidental fee rate equal to the in-state graduate incidental fee for all students in a graduate program who are members of the National Education Association. This will be effective in fall 2014.

"The purpose is to provide graduate degree programs that would be totally online, high quality, grounded in classroom applications and specifically priced for NEA members," according to backup material from the meeting.

Diana Rogers-Adkinson, dean and professor in the College of Education, said the proposal was submitted in August, and they learned they got the contract in late November.

Southeast was accepted as one of four university programs to partner with NEA to offer graduate education curriculum. One requirement was a pricing advantage for NEA members, the material said.

Student regent

With student regent Kevin Magnan going off the board, Gov. Jay Nixon will be interviewing candidates for the position and making a recommendation. Two of the three candidates, Austin Cordell and Devin Melton, spoke to the board. Allyson Brown was unable to attend.

Nixon will make a final recommendation.

Magnan said a selection committee of himself, Student Government president Benny Dorris and Michele Irby, director of Campus Life and Event Services, narrowed down a field of 13 applicants.

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