Agenda Item No. IV. B. 1. a.
Washburn University Board of Regents
SUBJECT: 2003-2004 Audit Reports - Berberich Trahan & Co., P.A.
During November 2000, an RFP was issued soliciting proposals for audits and related professional services for the fiscal year ending June 30, 2001 with the option of renewing for each of the subsequent three (3) fiscal years, which if exercised provides for audits and related professional services through June 30, 2004. At the January 10, 2001 meeting, the Board approved the recommendation to award an audit services contract to Berberich Trahan & Co., P.A. to be effective for the fiscal year ending June 30, 2001.
Article III, paragraph 1.d of the Bylaws of the Board of Regents states: "The Board shall arrange and supervise the annual audit of the books and securities of the University by a firm of certified public accountants. A copy of the annual audit report shall be made available to each member of the Board, the President, the Treasurer, and filed by the Secretary with the official minutes of the Board."
In accordance with the January 2001 action of the Board and in compliance with the Bylaws of the Board, Berberich Trahan & Co., P.A. has completed the annual audit and issued an unqualified opinion. The independent auditor's report can be found on pages 1 and 2 of the Basic Financial Statements report. Copies of the following documents were distributed to the Board members at the January 14, 2005 Board of Regents meeting.
Washburn University Basic Financial Statements for the year ended June 30, 2004;
KTWU Television Basic Financial Statements for the year ended June 30, 2004;
Auditor's Management Letter.
The Board of Regents Audit Committee received the reports of Berberich Trahan & Co., P.A. on January 14, 2005 and recommends the Board accept the audits.
Date Jerry B. Farley, President