UMS Special Board of Trustees Meeting - Meeting regarding the Audit for FY2025 - October 24, 2025

University of Maine System Board of Trustees · October 25, 2025

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The audit meeting was well-received, with positive feedback on leadership and thorough review.

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The University of Maine System Board of Trustees reviewed a draft FY2025 annual financial report and auditor findings, heard a high-level presentation from staff, and approved the report on the audit committees recommendation. The auditors issued a clean (unmodified) opinion. Trustees discussed accounting guidance changes that created a $3.4 million new liability and a reclassification that raised scholarship allowance as a share of total aid; trustees approved the FY25 report by roll-call vote.

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Transcript

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