University Enterprises Corporation at Csusb

“There are no committees that have been granted authority to act on behalf of the board.”

“The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review and approval prior to submitting to the irs.”

“The organization maintains a conflict of interests policy for board members, officers, and employees. In connection with any actual or potential conflict of interests, an interested person must disclose the existence and nature of any outside interest, outside activity, and financial interest to the board of directors, or the board committee delegated the authority to receive such disclosures. Monitoring is performed regularly by the board officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.”

“Comparability studies are used. The governing board approves the salary for the executive director. The process described here was last completed in 2023.”

“The organization makes its governing documents, policies and financial statements available to the public through its website and also upon request of the public at the organization's administrative office.”

“Contract services: program service expenses 4,003,772. Management and general expenses 186,596. Fundraising expenses 0. Total expenses 4,190,368. Campus service expense: program service expenses 0. Management and general expenses 2,043,532. Fundraising expenses 0. Total expenses 2,043,532. Grant subrecipient costs: program service expenses 2,335,725. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,335,725. Professional development and training: program service expenses 156,439. Management and general expenses 67,646. Fundraising expenses 0. Total expenses 224,085. Grant indirect costs: program service expenses 5,859,545. Management and general expenses -5,855,787. Fundraising expenses 0. Total expenses 3,758.”

“Net change in pension liability valuation -1,207,652. Net change in opeb liability valuation 860,043. Transfers to university/other auxiliary organizations -112,165.”

“The process for oversight and selection of an independent accountant has not changed from the prior year.”