Ohio State signs up for financial performance audit
- The Ohio State University will submit to a full public audit of its spending and operational structure, in an effort to identify cost saving opportunities which will support increased access to the institution.
- The audit is a part of pending legislation which would require performance audits for four state agencies, including a two or four-year institution.
- OSU leaders say the audit is part of its plan to secure more than $400 million over five years to fund scholarships and increased services to under-resourced students.
The Ohio State audit project is a win for the university and the state, showing families, lawmakers and donors that the institution works in concert with public officials to make the school transparent, accountable and focused on enhanced access. But it also offers a blueprint into how colleges and legislative bodies can work together to realize savings and in turn, promote increased funding for schools which drive economies, but are too expensive for individuals and families.
While there could be startling or controversial findings, other public colleges should consider similar initiatives in an effort to build public trust and enhanced economic standing.
- Cleveland Plain Dealer Ohio State University agrees to performance audit, making it first college in the state