COLUMBUS–State Senator Rob McColley (R–Napoleon), sponsor of Senate Bill 120, applauded his colleagues for passing the legislation, which will lift a state cap on annual audits of institutions of higher education.
Under current law, the Auditor of State may conduct a performance audit of only one institution of higher education every two years. If this legislation becomes law, the Auditor will be permitted to conduct performance audits of any institution of higher education in Ohio at their discretion.
“At one audit per biennium, it would take over 50 years to audit every higher education institution in the state,” said McColley. “It is time we enable our state officeholders to identify more potential savings, rather than tying their hands and preventing them from further protecting Ohio taxpayers. It is our sincere hope that this effort will lead to greater accountability and efficiency in our colleges and universities, and that this will ensure Ohio tax dollars are spent effectively and higher education is made more affordable.”
The bill passed the Ohio Senate with unanimous support on Wednesday, and now awaits consideration from the Ohio House of Representatives.