FINANCE COMMITTEE

BOARD OF TRUSTEES

Northern Michigan University

Agenda for meeting of July 19, 2007

1. Review and approval of previous minutes for May 2007*   (CAR)

Open Agenda

2. Audits – Mr. Gavin Leach – Vice President for Finance and Administration

· Update on Internal Auditor Search

· External Auditor Engagement Letter*  (CAR)

3. Budgets – Mr. Gavin Leach

· Fiscal Year 2008 General Fund Budget Discussion

· 2007-2008 Continuing General Fund Base Budget  (CAR)

· 2007-2008 Continuing Designated Fund Base Budget  (CAR)

· Key Indicators*

4. Capital Outlay – Dr. Michael J. Roy, Special Projects Consultant

· Combined Heat and Power Cogeneration

§ Heat, Power, Research, and Jobs – A Biomass Fueled Combined Heat and Power (CHP) Cogeneration Plant*

§ CHP – Third Party Financing Analysis*

· Campus Master Plan Update – Dr. Michael J. Roy and Mr. James Thams

§ JJR, Envision, and CBC Recommendation*

*Back-up information attached

(CAR) = Committee Action Required