ERIC Number: ED401770
Record Type: Non-Journal
Publication Date: 1996-Oct
Reference Count: N/A
State University of New York College at Buffalo: Selected Financial Management Practices. Report 95-S-82.
New York State Office of the Comptroller, Albany. Div. of Management Audit.
An audit of selected financial management procedures at the State University of New York College at Buffalo is reported. The audit addressed two issues: (1) whether the college's academic departments maintain an adequate time and attendance control system for faculty members and (2) whether the college has established an adequate system of internal controls over cash collection at certain remote sites. It identified significant weaknesses in both areas, resulting in leave accruals not being charged for some faculty absences and highly irregular cash transactions indicating misappropriation of university funds. The audit recommends that the matter of cash management be referred to the state attorney general for further investigation. It was also noted that the cash control weaknesses had not been corrected despite earlier recommendation to that effect. Deficiencies were noted in particular in the case of athletic events. It was also found that faculty attendance forms are not submitted monthly, a record of faculty absences is not kept by many department heads, and the records maintained are not used consistently to assure accurate recording of faculty attendance on forms intended for that purpose. Some specific recommendations for internal controls over these functions are made. The comments of SUNY officials, which were in general agreement with the recommendations, are attached. However, SUNY officials did not agree with certain of the auditors' observations and interpretation of issues. (MSE)
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: New York State Office of the Comptroller, Albany. Div. of Management Audit.