The Office of the Utah State Auditor has released a report of findings and recommendations upon audit of the Utah Local Governments Trust (ULGT). Pools are encouraged to read the findings and ULGT's response.
In particular, pool executives and boards of directors may wish to review the Utah auditor's perceptions of reasonable expenses and the degree to which board oversight of pooling operations is suggested. Pools may also be interested in the state auditor's comments to pool members about how frequently to solicit quotes for coverage.
The audit is a good reminder that perceptions about pool expenses and operations may be different internally than from outside sources, including state agencies and membership. ULGT is happy to address any questions about the audit process or findings, or offer any insight that might be of use to other pools. Questions can be directed to ULGT CEO, Steve Hansen.