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Committee Report | December 2012

Saturday, December 1, 2012 - 8:20am

Report of



The Board of Regents

December 11, 2012

The Regents Committee on Audits/Budget and Finance met as scheduled this morning, December 11, 2012.  Chancellor Tisch, and Regents Cashin, Cea, Cottrell, Phillips, Tallon, and Tilles were in attendance.

Co-Chair’s Remarks:  Regent Chapey welcomed everyone and thanked the Chancellor and Commissioner for making visits to the districts that were impacted by Sandy.

Items for Discussion

Completed Audits

The Committee was presented with nine audits this month.  Eight of the audits were issued by the Office of the State Comptroller (OSC) and one by the New York City Comptroller.  The audits were of two charter schools, five school districts, one Institution of Higher Education, and one State Education Department process. 

The findings were in the areas of procurement, financial reporting, claims processing, information technology, capital construction, and internal controls.

November 2012 Fiscal Report

Our Executive Deputy Commissioner briefed the Committee members.

The Division of Budget released mid-year statewide updates for the financial plan for the current fiscal year.  The report stated that the general fund will remain balanced in the current year.  However, these estimates are based on data before Hurricane Sandy.

The Department’s General Fund accounts are in structural balance with the exception of the Tenured Teacher Hearings (TTH).

Special Education Fiscal Oversight - Update

Department staff continues to work on putting forth specific recommendations related to reforming the oversight of special education providers.

Last Updated:

December 11, 2012