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MINUTES OF THE MEETING
UNIVERSITY OF HOUSTON SYSTEM
BOARD OF REGENTS
AUDIT COMMITTEE

February 1, 2005

Members Present:	Members Absent:
Morrie K. Abramson, Chair Michael J. Cemo, Vice Chair Dennis D. Golden Raul A. Gonzalez Leroy L. Hermes Morgan Dunn O’Connor Lynden B. Rose Thad “Bo” Smith Calvin W. Stephens

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The Audit Committee of the University of Houston System Board of Regents convened in the Melcher Board Room of the Athletics/Alumni Center on Tuesday, February 1, 2005. Noting the presence of a quorum, Chairman Abramson called the meeting to order at 9:18 a.m.

Mr. Guyton presented the following item for review by the Committee:

1. Audit Committee Charter and Checklist – UH System. In Accordance with Bylaw 4.6.1b, board approval is requested of the guidelines for the operation of the Audit Committee – UH System. Mr. Guyton noted that the referenced Bylaw should be corrected to read 4.6.2.b.

   Regent Stephens recommended a revision to the last sentence in the section titled “Authority.” The regents agreed that the sentence should read:

   The Committee through its chair is authorized to engage outside expertise, to the extent permitted by applicable law, should it choose to do so.

   Mr. Guyton will forward the regents an amended Charter prior to the February 17, 2005 Board of Regents Meeting.

   Regent Stephens requested that all board members be included in future meetings of the Audit working group. Dona Hamilton stated that an Audit Committee Meeting would be posted if a quorum was expected.

Regent Stephens moved approval of the item as presented. Regent Cemo seconded the motion which passed unanimously. The committee will present this item to the board at the February 17, 2005 meeting.

The following items were presented for information and require not further action by the committee or the board:

1. Audit Committee Issues – Discussion List – UH System. During the discussion of the NACUBO Training Program, Mr. Guyton stated that Peggy will provide the regents with the NACUBO training web site and that they could download a copy of the handbook from the web site. During the discussion of Institutional Compliance, Regent Stephens asked that the HUB breakdown by College be included in future Institutional Compliance Reports.
2. Internal Audit Report – Briefing Booklet – UH System.
3. State Auditor’s Report on The Protection of Confidential Information and Critical Systems at the University of Houston and Management’s Action Plan – University of Houston.
4. State Auditor’s Office Audit Plan, Calendar Year, 2005 – UH System.

All documentation submitted to the Committee in support of the foregoing action items, including but not limited to “Passed” agenda items and supporting documentation presented to the Committee, is incorporated herein and made a part of these minutes for all purposes.

There being no further business to come before the committee, the meeting adjourned at 10:30 a.m.

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Others Present:
Jay Gogue Gerald Strickland John Rudley Dona Hamilton Spencer Yantis Grover Campbell Art Vailas Elwyn Lee Max Castillo Tim Hudson Bill Staples	Wendy Adair Al Warner Wayne Beran Michelle Dotter Patrick Daniel Dave Irvin Janis Newman Mike Emory Robert Wimpelberg Marquette Hobbs Peggy Cervenka	Malcolm Davis David Bell Elaine Charlson Don Guyton Ed Hugetz Jim McShan Molly Woods