The university’s new internal audit function was the primary topic at the Executive and Audit Committee meeting of the board of trustees along with an evaluation of IT on campus and a cost-saving agreement regarding the White Stag Block in Portland.
The committee approved the adoption of the fiscal year 2016 audit plan as part of its quarterly report from Brenda Muirhead, chief auditor. In addition, the committee approved an external contract to audit Information Technology and an amendment to the audit charter to better reflect the university wide nature of the scope of responsibilities of the internal audit office.
The internal audit function provides independent, objective evaluations of the university’s efforts to manage risk in the form of performance audits intended to help improve processes and overall management.
“Based on interviews with more than 90 leaders, deans and directors, the majority of employees believe in the university’s core mission and desire improvements for success. Internal Audit encourages leadership to include organizational change management strategies in the strategic plan and reset a healthy tone from the top that clearly communicates expectations,” said Muirhead.
Formalizing and implementing a strategic plan to be used as an overall guideline, prioritizing the policy revisions to establish clear expectations, and improving information and communications across campus were recommendations in the quarterly report
Committee members also received information about IT and infrastructure from Acting Provost Frances Bronet and Chief Information Officer Melissa Woo. Bronet and Woo updated trustees about procurement proposals currently in review for IT strategic planning. IT planning, coupled with the IT audit report, will allow the university to comprehensively assess its IT infrastructure needs and plan for services going forward.
The EAC also approved the University moving forward to put a revised lease arrangement in place for the UO in Portland at White Stag Block.
The UO Foundation intends to purchase the facility in Old Town Chinatown that has been home to the UO in Portland since 2008. According to Jamie Moffitt, vice president for finance and administration, the UO Foundation will lease space to the university, freezing rent at current levels. This will enable the university to save money that otherwise would have gone to rent increases under current ownership.
Once the UO Foundation has recouped its costs and paid its debt on the building, the Foundation will transfer ownership of the property to the university. The purchase is expected to occur in November 2015.
The lease arrangement with the UO Foundation will help keep operational costs for the University as low as possible.
- By Julie Brown, Public Affairs Communications