Committee told HED will publish endowment report and flagged foundations for auditor review

Vice Chair Munoz pressed HED on foundations that manage state-placed endowments, fees charged, and whether foundation spending matched legislative intentions for designated programs. Secretary Stephanie Rodriguez said the department will publish an endowment report this month that includes financial details and that the Legislative Finance Committee's performance evaluation already documented which institutions use foundations and percentages. Rodriguez said HED has referred some items to the State Auditor and will share the report with committee members when finalized.