Board Audit Committee approves financial statements

The Audit Committee of the Pitt Board of Trustees met on Oct. 16 to approve the audited financial statements for the year that ended June 30, 2019.

The audit done by KPMG LLP shows that Pitt’s overall endowment — funds with and without donor restrictions — increased from $3.95 billion on June 30, 2017, to $4.22 billion in 2018 and $4.31 billion in 2019.

The full report can be found online.

The committee also approved the appointment of KPMG as the independent auditor and tax advisor for fiscal year 2020.