March 18 , 2009 | Board Meeting Summary

Wells Fargo Place
Saint Paul, Minnesota

THIS SUMMARY IS NOT THE OFFICIAL MINUTES OF THE MEETING

Proposed Amendment to Board Policy 1A.11 College and University Names and Permanent Locations
The Board of Trustees approved the amendment to Policy 1A.11 College and University Names and Permanent Locations. The amendment added the Owatonna site to Riverland Community College's locations.

Inter Faculty Organization Bargaining Agreement
The Board of Trustees approved the terms of the 2009-2011 labor agreement with the Inter Faculty Organization (IFO), and authorized the Chancellor to sign the agreement on behalf of the Board of Trustees.

Select External Auditors for Institutional Financial Statement Audits
The Board of Trustees approved the appointment of Kern, DeWenter, Viere, Ltd.; Virchow, Krause and Company, LLP; and LarsonAllen to serve as external auditors for seven colleges and universities. The firm of Kern, DeWenter, Viere, Ltd. will serve as external auditor for Hennepin Technical College and Normandale Community College. The firm of Virchow, Krause and Company, LLP will serve as external auditor for Century College. The firm of LarsonAllen will serve as the external auditor for Metropolitan State University, Minneapolis Community & Technical College, Rochester Community & Technical College, and Southwest Minnesota State University. 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 the contracts and shall continue to fulfill external auditing needs for the three fiscal years from July 1, 2008 to June 30, 2011, with the exception of the audit of Normandale Community College which shall be for the two fiscal years from July 1, 2009 to June 30, 2011.

The Board of Trustees authorized the Executive Director of Internal Auditing and the Vice Chancellor/Chief Financial Officer to negotiate contracts with Kern, DeWenter, Viere, Ltd., consistent with the terms contained in its proposal dated February 20, 2009; with Virchow, Krause and Company, LLP, consistent with the terms contained in its proposal dated February 27, 2009; and with LarsonAllen consistent with the terms contained in its proposal dated February 20, 2009.

Identity Theft Program
The Board of Trustees approved the Identity Theft Program and delegated to the Chancellor authority to maintain and update the program as may be necessary to address regulatory changes, system operation changes and make other reasonable changes enhancing program clarity and effectiveness consistent with regulatory requirements. The Chancellor shall timely report to the Board of Trustees any substantive changes in the program.

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