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State auditor shows higher-education cash balances rose since COVID; cautions on interpretation
Summary
State Auditor Tina Cannon and staff reviewed ACFAR and Transparent Utah data for higher education, showing rising cash balances at institutions since the COVID-era infusions and recommending careful, multi-line analysis rather than single-account metrics when evaluating university savings and reserves.
Tina Cannon, the State Auditor, and staff presented an overview of higher-education financial reporting on Feb. 6, showing tools the auditor's office has published to help lawmakers and the public track university and college expenditures and cash balances.
"On our website right now, we have 'How much does Utah spend on higher education,' and it's our portal taking those two sets of data and putting it into a useful format for the public to understand the overall," Tina Cannon said, referring to the auditor's Transparent Utah portal and the state's annual comprehensive financial reports (ACFARs).
Jason Allen and Alex Nielsen of the…
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