Rachel Michelle Danielson

The committee reviewed the audited financial statements for the fiscal year ending June 30, 2025, for both the Site Authority and Financing Authority, receiving clean, unqualified opinions from the independent auditors. Key topics included a review of financial statement highlights, assessment of risk areas like revenue recognition and management override of controls, and a summary of the strong liquidity position of the Site Authority. Additionally, the committee was briefed on the results of a triennial operational audit conducted by the Chancellor's Office and pending improvements to the electronic delegation of authority system. The committee formally approved the audited financial statements.

The committee reviewed the audit planning report, including engagement team composition, the summary of services, audit plan considerations, key audit procedures, the audit timetable, key responsibilities, and the impact of new standards on the 2026 audit. Additionally, the committee reviewed the proposed fee and expense estimate for the site authority for the fiscal year ending June 30, 2026.

The meeting included discussions and presentations on property taxes, CalTRUST investment funds, and community updates. The board reviewed and approved the 2025-26 Site Authority Operating Budget, Capital/Reserves Budget, and the 2025-26 UGCAM Budget. There were revisions to the Community Advisory Group membership and a first reading of the draft Rules of Procedures. The board also received updates on campus developments, including website enhancements, commencement ceremonies, updated designations from the Carnegie Foundation, and partnerships with Hancock College.

The strategic plan for California State University Channel Islands (CSUCI) aims to build an innovative higher education institution focused on student success, social and economic vitality, and democratic values. Key areas of focus include increasing graduation rates, eliminating achievement gaps, fostering interdisciplinary learning experiences, and supporting faculty innovation. The plan also emphasizes the importance of diverse revenue streams and community partnerships to achieve its vision by 2030.

The agenda includes discussions on the Anacapa Canyon and University Glen operations, CI Power/DWR updates, and financial and investment reports. The board will consider property taxes, market conditions, and recommendations for changes in investment positions by State Street Global Advisors. Approvals are sought for the 2025-26 Site Authority Operating Budget and the UGCAM Budget. Updates will be provided on community matters and the University Glen governance structure, including a proposed change to the CAG membership. The board will also discuss the rules of procedure for Site Authority/Financing Authority board meetings and plan for a fall workshop, along with a campus update.