Background
Committee to Review Endowment Expenditures
- President Geoffroy commissioned committee in fall of 2001.
- Committee consists of 3 faculty members, ISU Controller, ISU Director of Internal Audit.
- Committee was charged with reviewing the University's processes to ensure appropriate stewardship of endowment accounts.
- Initial focus was on endowed scholarships, but there will be yearly on-going reviews.
Committee Recommendations
- Committee initially returned with 14 recommendations in 4 general areas:
- To improve coordination and oversight of endowment expenditure activities.
- To ensure strict compliance with the terms in the
Memorandum of Agreement (MOA).
- To improve training of account administrators.
- To improve the on-line account information (WARS).