Committee Report | February 2011

Report of

REGENTS COMMITTEE ON AUDITS/BUDGET AND FINANCE

to

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.
Completed Audits

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