Transparency lost as bill ends independent audits of campus financial statements

A disappointing sidebar to the final state budget deal was inclusion of language in this budget that eliminates the biennial audit requirement for the 23 CSU campuses.

The language, proposed by the Chancellor’s Office and carried in legislative form by Republican Senator Anthony Cannella, was removed from the June 15 budget passed by the Legislature and subsequently defeated on June 21 in the Assembly Committee on Higher Education. CFA views these audits as necessary to proper transparency to protect taxpayer dollars.

Removing this requirement flies in the face of open and accountable public agencies.