CT SB00256

Changes internal audit frequency for faculty consulting agreements from semiannual to annual reviews at state system of higher education constituent units, effective October 1, 2012.

Requires board of trustees policies to govern faculty consulting agreements and research projects, including disclosure procedures, chief academic officer approval, and sanctions for non-compliance.

Establishes a nine-member monitoring committee at each constituent unit to review annual audit reports and recommend policy changes to the board of trustees and relevant General Assembly committees.

Removes definitions of "consulting" and "research" from subdivision (2) and relocates them to new subdivision (5) without substantive changes to the definitions.