The proposed bill, Substitute 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 all executives and staff. Specifically, the policies will include guidelines for the permitted and restricted uses of purchasing cards, accountability measures for misuse, and rules for state vehicle usage. Additionally, any employment contracts for executive positions negotiated after this date must stipulate that the individuals maintain their primary residence in Connecticut.

Furthermore, the bill mandates the establishment of an internal audit office by the Board of Regents to conduct regular audits of financial records and expenditures, ensuring compliance with laws and regulations. The Comptroller will also perform randomized post-audit examinations of the Connecticut State Colleges and Universities' records. The bill repeals and replaces Section 10a-9b of the general statutes, emphasizing the need for constituent units to collaborate with state agencies to utilize the CORE-CT system for accounting and financial reporting. New requirements include quarterly submissions of budget and expenditure data to the Comptroller for state-wide fiscal transparency.

Statutes affected:
Raised Bill:
HED Joint Favorable Substitute:
File No. 158:
APP Joint Favorable: