Agenda Book - July 27, 2017

Joint meeting of the Illinois Student Assistance Commission and the Audit Committee

James R. Thompson Center
Room 2-025
100 W. Randolph St.
Chicago, IL

July 27, 2017
10:00 a.m.

1. Announcements
   1. Approval of an Audit Committee Member (Action)
      Action Taken: Approved
2. Approval of the April 12, 2017 Commission Meeting Minutes (Action)
   Action Taken: Approved
3. State Legislative Update (Information)
4. Approval of Fiscal Year 2018 Monetary Award Program (MAP) Recompute Formula (Action)
   Action Taken: Approved
5. Fiscal Year 2018 Budget Review and Approvals
   Action Taken: Approved
   
   1. Approval of the Student Loan Operating Fund (SLOF) Budget (Action)
   2. Approval of the Illinois Designated Account Purchase Program (IDAPP) Budget (Action)
   3. Approval of the College Illinois!® Prepaid Tuition Program Budget (Action)
   4. Approval of the GEAR UP Grant Budget (Action)
6. College Illinois!® Prepaid Tuition Program Investments
   1. Investment Update (Information)
   2. Investment Policy Asset Allocation (Action)
      Action Taken: Approved
   3. Approval of Appointment of Investment Advisory Panel Members (Action)
      Action Taken: Approved
   4. Program Update (Information)
7. Internal Audit
   1. Approval of the Audit Committee Charter (Action: Audit Committee Member)
      Action Taken: Approved
   2. Approval of the Fiscal Year 2018 Internal Audit Plan (Action: Audit Committee Member)
      Action Taken: Approved
   3. Approval of the Audit Committee Charter (Action: Commission)
      Action Taken: Approved
   4. Approval of the Fiscal Year 2018 Internal Audit Plan (Action: Commission)
      Action Taken: Approved
   5. Audit Committee Update (Information)
8. Closed Session: Personnel and Closed Minutes Redetermination
   Action Taken: Approved
9. Approval of Closed Session Action Items
   1. Personnel Evaluation (Action)
   2. Report of Redetermination Regarding Confidentiality (Action)
      Action Taken: Approved
10. Information Technology Presentation (Information)
11. Public Comment
12. Executive Director’s Report (Information)