Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Oversight Audit topic
No spam. Unsubscribe anytime.
Internal audit director summarizes FY24 activity as she readies retirement; board thanks office
Summary
Kim Labonte presented the office’s FY24 annual audit and activity report — staffing, audit plan expansion, recommendations closed and ethics work — and trustees acknowledged her upcoming retirement after 16 years as executive director.
Kim Labonte, executive director of internal audit, presented the Office of Internal Audit, Compliance and Ethics’ FY24 annual activity report to the Audit Committee and full Board. Labonte said the office operated at nearly full staffing with one vacancy that has since been filled; staff collectively hold nine professional certifications and more than a century of institutional experience.
Labonte said the audit plan for FY25 expanded from an initial 28 engagements to 36 after a risk assessment; at the time of reporting three engagements were complete and 14 in process. The office issued 14 new recommendations in FY24 and closed 24 prior‑year recommendations (a 60% closure rate). She noted the office scored 3.61 out of 4 on service satisfaction surveys and that 86% of the office budget is dedicated to salaries.
On ethics and compliance, Labonte said the ethics officer reviewed 959 statements of economic interest and the office investigated 32 OEIG referrals. She also said the compliance database now contains more than 775 mandate lines applicable to the university. Trustees thanked Labonte and several members recognized her impending retirement in two weeks; Labonte said she appreciated the work and is looking forward to the next chapter.
