Board of TrusteesUniversity of CincinnatiBoard of Trustees

Board of Trustees

Governance and Audit Committee

University Rule 3361:10-1-05 specifies items reserved for action by each committee

Governance and Audit committee action shall be required for:

  • Receipt and review of the university’s annual financial report.
  • Receipt and review of all outside audit reports and management letters addressing the system of internal accounting controls.
  • Receipt and review of specific internal audit reports.
  • Assessing recommendations in all audit reports and evaluating the risk associated with conditions cited, versus the cost to implement recommended changes.
  • Making recommendations to the full board regarding actions to be taken in response to findings in audit reports.
  • Meeting at least annually with outside independent auditors.
  • Receiving information on all contacts with state and federal auditors, including the internal revenue service.
  • Reviewing changes in university accounting principles or reporting procedures that would have a major impact on the university’s reported financial condition.
  • Reviewing changes in university conflicts, conduct and ethics, and compliance policies.
  • Receipt and review of pending litigation.

The Governance and Internal Affairs Subcommittee of the Governance and Audit Committee shall oversee the university’s decision–making processes and the management of the university’s business and legal affairs including oversight of litigation related matters, risk management, compliance with applicable law and regulations, and the organizational structures of the university and its administration.

The Governmental Relations Subcommittee of the Governance and Audit Committee shall oversee the university’s relationships and interactions with elected and other public officials, and with federal state, county, and municipal governments and their agencies.


Governance and Audit Committee Meeting Schedule

2014

All meetings are 9:00 a.m. - 11:00 a.m.

Date Location
February 7
620 University Pavilion
May 20*
Conference
August 5
620 University Pavilion
October 9*
Conference
November 14
620 University Pavilion

*  These are Governance and Audit Committee Conferences and as such are exempt from the Open Meetings Requirement as noted in ORC -121.22 Public Meetings - Exceptions:  "(2) An audit conference conducted by the auditor of state or independent certified public accountants with officials of the public office that is the subject of the audit"