Finance and Administration Committee Meeting Minutes
The committee discussed the Vice President for Finance and Administration's report regarding financial communication strategies and the university's structural financial pressures. Key actions included the approval of amendments to the investment policy, the adoption of the proposed operating budget, and the acceptance of the ten-year business forecast. The committee also authorized the advancement of two significant capital projects for the OSU-Cascades campus, involving land development, remediation, and the design phase for a new student health and recreation center. Furthermore, an update was provided on the progress of the Administrative Modernization Program.
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Joint Executive, Audit and Governance Committee and Finance and Administration Committee Minutes
The meeting focused on the review and acceptance of the FY2025 single audit report, presented by external auditors. Discussions included a detailed overview of federal compliance testing, the identification of a significant deficiency related to the Education Stabilization Fund due to a timing issue in transaction recording, and a preview of the upcoming FY2026 audit process, including implementation of new accounting standards. The committee also clarified procedures for audit program selection and financial management best practices.
