Internal Audit

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 2025:

  • Tuesday, August 13, 2024 2:00 pm​
  • Tuesday, November 12, 2024 2:00 pm
  • Monday, March 10, 2025 2:00 pm
  • Tuesday, June 10, 2025 2:00 pm

All Audit Committee meetings are held at 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 4, 2024


March 7, 2023, June 13, 2023, August 15, 2023, November 1, 2023


March 8, 2022 , June 14, 2022, August 15, 2022, November 22, 2022


Audit committee

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

Vice Chair: Josh Botnen (Commissioner of Minnesota Management and Budget designee)

Member: Patty Hand (Commissioner of Education Designee, statutory member of TRA Board)

Member: David Rondestvedt: TRA Board of Trustees, Vice-President

Member: Kathy Oellerich: TRA Board of Trustees

Additional information

FY2025 Audit Plan

FY2024 Audit Plan

FY2023 Audit Plan