Committee Report | February 2011
REGENTS COMMITTEE ON AUDITS/BUDGET AND FINANCE
The Board of Regents
February 8, 2011
Your Regents Committee on Audits/Budget and Finance met as scheduled on February 7, 2011. Vice Chair Bendit, Chancellor Tisch, Chancellor Emeritus Bennett, Vice Chancellor Cofield, Regents Phillips, Tallon, Tilles, and Young were in attendance.
Chair’s Remarks: Regent Chapey welcomed everyone. I emphasized the linkage of auditing and budgeting and providing proper oversight of government functions.
Items for Discussion
January 2011 Fiscal Report
Your Committee reviewed the January fiscal report. There was a discussion of the fiscal challenges facing the Department. The report now includes an SED Plan Adjustment Report. The concerns remain in the area of teacher tenure hearing, assessment costs, the summer school for the arts and the GED program.
The Committee was presented with 19 audits this month. The audits included 1 ARRA audits issued by the Office of Audit Services (OAS), and 18 audits issued by the Office of the State Comptroller (OSC) of which 2 were of Department functions or activities. The OSC audits identified procurement issues; they also identified opportunities for school districts to achieve cost savings. OAS will continue to monitor trends requiring the attention of the Committee.
That concludes our report.
Chair, Geraldine Chapey
Vice Chair Charles Bendit