The General Assembly Raised Bill No. 6887 aims to enhance management and fiscal accountability within Connecticut's higher education system. Effective July 1, 2025, the Board of Regents for Higher Education and the Board of Trustees of The University of Connecticut are required to adopt or update policies regarding the use of purchasing cards and state vehicles, establish residency requirements for certain executive positions, and provide uniform training for executives and staff. The bill emphasizes accountability measures to prevent misuse of purchasing cards and state vehicles, including the potential revocation of purchasing cards when necessary.

Additionally, the bill mandates the establishment of an internal audit office by the Board of Regents by January 1, 2026, which will conduct annual audits of financial records and compliance. The Comptroller is also tasked with performing a randomized post-audit examination of the Connecticut State Colleges and Universities' records. Furthermore, the bill repeals certain language in existing law, replacing it with requirements for each constituent unit to submit budget and expenditure data to the Comptroller for state-wide fiscal transparency. Overall, the bill seeks to improve oversight and accountability in higher education financial practices.

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