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THECB presents mid‑year financial report; internal audit and compliance updates delivered
Summary
THECB staff reported on the fiscal year 2025 mid‑year financial condition, noting reduced loan demand and high credit rating for bonds; internal audit and compliance staff reported ongoing audit work on grant administration, academic program approvals and community college finance.
At its April 23, 2025, Agency Operations Committee meeting, THECB staff presented a mid‑year financial report for fiscal year 2025 and internal audit and compliance updates.
Anthony (last name not specified in the record), THECB chief financial officer, presented the financial report covering the first half of FY 2025, which is the second year of the current biennium. He said staff are monitoring funding availability and budget adjustments to align FY25 balances across the biennium. Regarding the loan portfolio, Anthony reported lower loan demand this year because of management debt limits and said the agency is monitoring market conditions and federal developments that could affect loan demand. He also noted the agency had conducted required hearings and submitted materials to the bond review board, and that the agency had received confirmation from rating agencies that the planned bond issuance would receive a high credit rating.
Arby Gonzalez, assistant commissioner for internal audit and compliance, provided a status update on audit activities. Gonzalez said the internal audit team is conducting work on medical education grant administration (planning complete for one portion; fieldwork ongoing for expansion) and on the academic program approval process; the team has begun initial planning for a community college finance audit. He said the agency is focusing on data management and is recruiting a senior internal auditor with IT audit experience. For compliance monitoring, Gonzalez reported completion of eight state compliance monitoring projects since the January committee meeting and that plans for FY 2026 compliance monitoring will be presented in July.
Committee members asked clarifying questions; no committee action was taken on these informational items.
Provenance
The financial report and audit updates are recorded in the April 23, 2025 committee transcript and materials.
