20 page audit reports are never good and it looks like no one was watching the shop at UMES.
From the cover letter, “UMES did not exercise adequate controls over student financial aid transactions, which totaled $44.5 million during fiscal year 2010.”
If you don’t want to read the whole report, just read the executive summary on pages 5-6.
A single employee had authority to award $545,000 in student grants. No documentation was maintained on the grants. No policy was in place to determine who got grants. And, of course, the employee awarded one of the grants to a relative.
It’s also interesting that the Chancellor of the UMD responded to the audit, rather than the UMES president.
Below is a link to the Office of Legislative Audits’ report dated August 29, 2011 covering the audit of the University System of Maryland – University of Maryland Eastern Shore. This report is available to the public on September 7, 2011.
No comments:
Post a Comment