CT
Connecticut House Bill HB05575

Connecticut 2015 Regular Session

Connecticut House Bill HB05575

Introduced
1/20/15  

Caption

An Act Requiring The Auditors Of Public Accounts To Audit The University Of Connecticut Foundation.

Impact

If enacted, HB 05575 will amend Title 4a of the general statutes, which pertains to audits within state governance. This change will establish a formal process for auditing the University of Connecticut Foundation, fostering a culture of financial responsibility and discipline. The public will benefit from increased visibility into the foundation's financial operations, addressing concerns regarding potential mismanagement or misuse of funds. The auditing requirements are also expected to ensure compliance with best practices in financial governance, potentially leading to improved operational efficiencies.

Summary

House Bill 05575 aims to enhance the accountability of the University of Connecticut Foundation by mandating audits conducted by the Auditors of Public Accounts. The bill seeks to ensure that financial practices within the foundation are transparent and aligned with state regulations. The requirement for an audit serves to promote public trust in the foundation's financial dealings, especially in light of significant contributions received from donors. By putting in place this auditing mandate, the bill aligns with a broader legislative trend focusing on accountability in state-funded institutions.

Contention

While the bill's intent is to promote accountability, there may be concerns regarding donor confidentiality. The bill stipulates that the identities of all donors to the foundation must remain confidential, which could lead to debates about the balance between transparency and privacy in funding practices. Stakeholders may raise questions about how the auditing process will safeguard this confidentiality while ensuring thorough oversight of financial practices. These deliberations highlight the ongoing tensions in public higher education financing between transparency and the rights of private contributors.

Companion Bills

No companion bills found.

Previously Filed As

CT SB00107

An Act Updating Requirements For Construction Management Oversight At The University Of Connecticut, Pausing The Requirement For A Plan To Increase The Number Of Full-time Faculty At Public Institutions Of Higher Education And Replacing References To The President Of The Connecticut State Colleges And Universities With The Chancellor Of The Connecticut State Colleges And Universities.

CT SJ00211

Resolution Confirming The Nomination Of Craig Miner Of Litchfield To Be An Auditor Of Public Accounts.

CT SB00455

An Act Concerning The Establishment Of An Investment Instrument Program By The University Of Connecticut And The Connecticut State University System.

CT SB00001

An Act Concerning The Health And Safety Of Connecticut Residents.

CT HB05341

An Act Requiring Reporting Of Projected And Actual Revenues And Expenditures At Public Institutions Of Higher Education.

CT SB00188

An Act Requiring Connecticut Banks To List All Account Holders Or Owners On Periodic Statements.

CT HB05479

An Act Concerning The Provision Of Advanced Life Support Services At The University Of Connecticut Campus In Storrs.

CT SB00109

An Act Modifying The Connecticut Automatic Admissions Program.

CT HB05431

An Act Establishing A Connecticut Families And Workers Account.

CT HB05087

An Act Concerning Funding For Connecticut Public Broadcasting.

Similar Bills

No similar bills found.