Nov. 4, 2012
Northwest Board of Regents receives positive financial audit
Northwest Missouri State University's Board of Regents heard the results of the University’s annual financial audit and approved the refunding of housing system revenue bonds during its regular meeting Friday, Nov. 2.
Accounting firm BKD, LLP completed Northwest’s annual financial audit for the fiscal year ending June 30 and provided Northwest with an unqualified opinion, identified no material weaknesses and indicated strong financial health.
The Board also approved the refunding of housing system revenue bonds in an effort to smooth future debt payments and reduce future interest payments.
In other business, the Board approved the addition of a faculty position responsible for instruction in Northwest’s didactic program in dietetics and coordinating the department’s new Individualized Supervised Practice Program in dietetics. The program, which is part of Northwest’s comprehensive major in foods and nutrition in the Department of Health and Human Services, has grown significantly in the past three years from 34 students in fall 2009 to about 80 this fall. The addition of a faculty member will enrich the program with additional perspective and expertise.
The Board also approved the initiation of a selection process to review and recommend the awarding of a contract for legal services. Under the selection process, a legal service contract will be awarded by establishing a committee to identify selection criteria and select a firm.
During the closed portion of the meeting, the Board approved a lease agreement between Northwest’s Center for Innovation and Entrepreneurship (CIE) and Missouri Moisture Analyzers LLC. Missouri Moisture Analyzers, an agriculture-technology company that builds and calibrates moisture control analyzers used in agriculture production and grain storage, will lease just over 1,000 square feet of space in the CIE.
The Board of Regents is responsible for sound resource management of the University and determining general, educational and financial policies.
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Northwest Missouri State University
215 Administration Building | 800 University Drive | Maryville, MO 64468