TO: Board of Trustees
THROUGH: Carolyn Gonot, Executive Director
FROM: Ron Ellis, Director Internal Audit
PRESENTER(S): Ron Ellis, Director Internal Audit
TITLE:
title
UTA Policy - UTA.01.01 Ethics Policy
end
AGENDA ITEM TYPE:
UTA Policy
RECOMMENDATION:
Approve amendments to and renumber the UTA.01.01 Ethics Policy and authorize the Executive Director to sign and implement the policy.
BACKGROUND:
The Ethics Policy is a foundational Entity Level Control under the COSO 2013 framework that defines, for the organization, specific ethical standards of conduct, prohibits certain conflict of interest conduct, and holds everyone in the Agency accountable for conducting themselves in a manner that is in the best interest of the Utah Transit Authority.
DISCUSSION:
The purpose of the amendments to the Ethics Policy is described below: 1) To apply the same rule and language to Directors and Chief Officers as applies to the Board with regard to investment property ownership rules. 2) To clarify investment property ownership.
ALTERNATIVES:
If this policy is not adopted, the current Corporate Policy 1.1.11 would remain in effect.
FISCAL IMPACT:
N/A
ATTACHMENTS:
Ethics UTA Policy UTA.01.01