|
|
FOR IMMEDIATE RELEASE |
|
State
Rep. Barb McIlvaine Smith
|
  
|
Auditor general recommends cutting number of legislators on PHEAA board
McIlvaine Smith ahead of the curve; offered bill last fall to accomplish that goal
HARRISBURG, Aug. 22 – Pennsylvania Auditor General Jack Wagner released his audit of the Pennsylvania Higher Education Assistance Agency on Tuesday, and his recommendations included that the number of legislators on the PHEAA board be slashed.
State Rep. Barb McIlvaine Smith, D-Chester, agrees with Wagner. Last fall, she offered legislation (H.B. 1972) that would reduce the number of state legislators on the PHEAA board of directors.
"The auditor general's report found that PHEAA has spent millions of dollars on its internal operations, including bonuses and perks for board members and employees," said McIlvaine Smith. "I have long felt that there are too many legislators on the PHEAA board and not enough people versed in education and investment."
Currently, 16 of PHEAA's 20 board members are legislators. The remaining members include the state secretary of education and three gubernatorial appointees.
Under McIlvaine Smith's bill, the number of legislators on the board would be cut in half, as recommended by Wagner. The remaining members would include the state secretaries of education and banking, the state treasurer and three appointees by the governor to include a person with banking experience, one with investment experience and a third with experience in issuing and/or underwriting bonds.
"It is important that the agency responsible for helping our citizens afford college have members on its board that are well versed in education, banking and investment," said McIlvaine Smith, who had been offered a PHEAA board position but declined. "PHEAA has done a good job helping many of our citizens attend college through grants and low-interest loans. But this report shows the agency needs to refocus its priorities and the best way to do that is by revamping its board of directors."
McIlvaine Smith's H.B. 1972, introduced in October, has bipartisan support and is currently being considered by the House Finance Committee.
###