Ohio auditor gets approval to audit university foundations

COLUMBUS, Ohio (AP) — Ohio’s state auditor has been given legal authority to audit the books of the fundraising wings of colleges and universities.

Auditor David Yost asked the Ohio Attorney General’s office for a legal opinion after some state universities questioned whether their foundations were subject to review.

University foundations are typically private, nonprofit entities that raise and distribute money to their respective universities.

Attorney General Mike DeWine said in an opinion issued last week that such foundations can be audited because state law established them for the exercise of a function of government.

Yost spokesman Ben Marrison told the Columbus Dispatch (http://bit.ly/1MmifuZ ) that Yost planned to use the authority to audit foundations as necessary.


Information from: The Columbus Dispatch, http://www.dispatch.com

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