The Finance & Resources Committee is one of seven committees that will assist NKU in conducting the self-studies necessary to prepare its Compliance Certification as part of the SACS reaffirmation process. Each committee is assigned a different set of Core Requirements, Comprehensive Standards, and Federal Requirements on which to focus its attention.

 
The seven committees will do most of their work during the 2007-08 academic year and have their analyses finished by the end of spring 2008. Final editing of the Compliance Certification will then be done during summer 2008 and it will be submitted to SACS in early September.

Ken Ramey, vice president for administration and finance, is chairing the Finance & Resources Committee. He can be contacted by phone at extension 5125 or by email at ramey@nku.edu. The names of other members of this committee will be posted here after they have been confirmed.

This committee will address the university's compliance with the following SACS requirements and standards:

SACS Core Requirements

2.11.1

The institution has a sound financial base and demonstrated financial stability to support the mission of the institution and the scope of its programs and services. The member institution provides the following financial statements: (1) an institutional audit (or Standard Review Report issued in accordance with Statements on Standards for Accounting and Review Services issued by the AICPA for those institutions audited as part of a systemwide or statewide audit) and written institutional management letter for the most recent fiscal year prepared by an independent certified public accountant and/or an appropriate governmental auditing agency employing the appropriate audit (or Standard Review Report) guide; (2) a statement of financial position of unrestricted net assets, exclusive of plant assets and plant-related debt, which represents the change in unrestricted net assets attributable to operations for the most recent year; and (3) an annual budget that is preceded by sound planning, is subject to sound fiscal procedures, and is approved by the governing board.

2.11.2

The institution has adequate physical resources to support the mission of the institution and the scope of its programs and services.

SACS Comprehensive Standards

3.10.1	The institution’s recent financial history demonstrates financial stability.
3.10.2	The institution provides financial profile information on an annual basis and other measures of financial health as requested by the Commission. All information is presented accurately and appropriately and represents the total operation of the institution. (2007 revision)
3.10.3	The institution audits financial aid programs as required by federal and state regulations.
3.10.4	The institution exercises appropriate control over all its financial and physical reserves.
3.10.5	The institution maintains financial control over externally funded or sponsored research and programs.
3.11.1	The institution exercises appropriate control over all its physical resources. (2007 revision)
3.11.2	The institution takes reasonable steps to provide a healthy, safe, and secure environment for all members of the campus community.
3.11.3	The institution operates and maintains physical facilities, both on and off campus, that appropriately serve the needs of the institution’s educational programs, support services, and other mission-related activities.

Federal Requirements

4.7	The institution is in compliance with its program responsibilities under Title IV of the 1998 Higher Education Amendments. (In reviewing the institution’s compliance with these program responsibilities, the Commission relies on documentation forwarded to it by the Secretary of Education.)