TALLAHASSEE — Pledging to strengthen accountability and oversight, the Board of Governors this week discussed its progress on several initiatives to ensure fiscal integrity at the universities.
Various components of the Board’s work came up in the Facilities, Budget and Finance, and Audit and Compliance committees. The Board’s action marks a strong path forward for the State University System and a renewed commitment to accountability.
“We were all disappointed by what happened at UCF, but it’s time to focus our energies on how we can prevent this from happening again,” said Ned Lautenbach, Board of Governors’ Chair. “Our System will come out of this stronger and better than before.”
Board action includes:
- The Board heard an update on the progress of the investigation announced in January on the misuse of Education & General funds beyond the construction of Trevor Colbourn Hall.
- The Board is conducting a controls review of the universities to ensure the proper checks and balances are in place to prevent future misuse of funding.
- The Board reviewed recommendations in a recent report by the House Public Integrity and Ethics Committee, discussing action items — including reformed Board of Governors regulations and practices as well as enhanced trustee training.
- The Board discussed a proposed amendment to its Fixed Capital Outlay regulation, which would provide for Board approval of Fixed Capital Outlay Budgets in parallel to the approval of university operating budgets.
- The Board Office presented materials for its new Systemwide financial training initiative, which will ensure appropriate training for all university boards of trustees.
- The Board is monitoring an investigation into the misuse of funds at the University of South Florida and expects a report-out at its next meeting.
Facts about the State University System of Florida and the Board of Governors
The State University System of Florida is a constitutional body led by the 17-member Board of Governors. The system has 12 universities and more than 345,000 students, making it the second-largest public university system in the nation. Responsibilities include defining the distinctive mission of each institution and managing the system’s coordination and operation. The Board appoints a Chancellor who serves as the system’s chief executive. For more, visit flbog.edu, think-florida.org,or follow us on Facebook and Twitter.