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

May 3, 2005

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

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The Audit Committee of the University of Houston System Board of Regents convened in the Melcher Board Room, Athletics/Alumni Center on Tuesday, May 3, 2005.    Noting the presence of a quorum, Chairman Abramson called the meeting to order at 8:50 a.m.  

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

1. Internal Audit Report - Briefing Booklet - UH System. During the discussion, Mr. Guyton introduced the Audit Peer Review Team:
   • Gerald E. Lange, Director of Internal Auditing, University of Wisconsin Madison
   • Kimberly F. Turner, CPA, Managing Director for the Office of Audit Services, Texas Tech University System
   • Brenda M. Shannon, CPA, Director of Audit Services, New Mexico State University
   
   
2. Audit Committee Planner - UH System


3. Institutional Compliance Activity Report - UH System. When discussing the Institutional Compliance Risk Assessment Matrix on page AUDIT 19, Dr. Gogue noted that a "Not Applicable" was listed for UH-Downtown under Competitive Procurement Requirements and asked Mr. Guyton to review this area.


4. Federal Portion of the Statewide Single Audit Report for the year ended August 31, 2004 Ð UH System

Copies of all handouts are on file in the Board of Regents Office.

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 9:35 p.m.

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Others Present:
G. Jay Gogue Max Castillo Tim Hudson Dona G. Hamilton Elwyn Lee John M. Rudley Bill Staples Jerald Strickland Spencer Yantis Chaney Anderson Elaine Charlson Oscar Gutierrez Wendy Adair Jim McShan	Janis Newman Molly Woods Mike Emery Wayne Beran Elaine Charlson Michelle Dotter Vergel Gay Jim Anderson David Bell John Powell Willie Munson Jerald E. Lange Kimberly F. Turner Brenda Shannon	Russ Hoskens Diane Murphy Ed Hugetz David Bell Don Guyton Jim Anderson David Bradley Don Smith Peggy Cervenka Averill Buchanan Marquette D. Hobbs Lucy Limon