Securing TRA business assets

The role of internal audit is to provide independent assurance that an organization’s risk management, governance and internal control processes are operating effectively. The internal audit function was authorized by the TRA Board of Trustees. As a result, a charter was approved governing internal audit practices and the TRA Audit Committee.

Leslie Nagel

Leslie Nagel was hired in 2009 as the TRA Internal Auditor. She is a Certified Public Accountant, a Certified Internal Auditor, and a Certified Employee Benefits Specialist as awarded by the International Foundation of Employee Benefit Plans. Before joining TRA, she was an audit manager for LarsonAllen (now CliftonLarsonAllen), a public accounting firm. She is a board member of the Association of Public Pension Fund Auditors. Leslie received a Bachelor of Arts degree in Business Administration—Accounting from Concordia College in Moorhead.

Meetings scheduled in fiscal year 2023:

  • August 15, 2022
  • November 22, 2022 at 12:00 pm
  • March 7, 2023
  • June 13, 2023

All Audit Committee meetings are held at 9:30 a.m. in the TRA offices at 60 Empire Drive, Suite 400, St. Paul, unless otherwise indicated.

Approved meeting minutes

Minutes are posted once they are approved at the following Audit Committee meeting.


March 8, 2022 ,June 14, 2022, August 15, 2022


May 9, 2021, June 15, 2021, August 24, 2021, September 14, 2021, November 9, 2021


May 12, 2020, June 16, 2020, August 18, 2020, November 17, 2020


March 19, 2019, June 12, 2019, August 13, 2019, November 19, 2019


February 20, 2018, April 10, 2018, August 8, 2018, November 13, 2018


Audit committee

Chair: Joel Stencel (Minnesota School Boards Association designee; statutory member of TRA board)

Vice Chair: Denise Anderson (Commissioner of Education designee; statutory member of TRA board)

Member: Amy Jorgenson (Commissioner of Minnesota Management and Budget designee)

Member: Martha Lee Zins (TRA Board of Trustees president)

Member: Luke V. Olson, (TRA Board of Trustees vice president)

Additional information

FY2023 Audit Plan

FY2022 Audit Plan

FY2021 Audit Plan

FY2020 Audit Plan

FY2019 Audit Plan

FY2018 Audit Plan

Internal controls bulletins

Office of the Legislative Auditor (OLA) reports: Retirement

MN Code of Conduct training