State Auditor Schweich Releases Audit of Southeast Missouri State University
FOR IMMEDIATE RELEASE
Tuesday, February 07, 2012
CONTACT: Spence Jackson,
Media Director
(573) 751-4213
E-mail:
Spence.Jackson@auditor.mo.gov
JEFFERSON CITY (February 7, 2012) – State Auditor Tom Schweich today released the completed audit of Southeast Missouri State University (SEMO).
In the areas audited, the overall performance of the university was rated Good.
The university did not always solicit competitive proposals for professional services and did not retain written agreements for past legal services. Two accounting system users were able to enter and approve their own transactions, increasing the risk of misuse.
The university spent over $60,000 in a three year period for employee recognition purposes and lacks comprehensive guidelines detailing when it is appropriate to provide food at various events. The university also subsidized a significant portion of the foundation's operating expenses, in apparent violation of the Missouri Constitution.
The university does not adequately document overhead and shared costs allocations. The university president was allowed to accumulate 1,378 hours of vacation time (worth $128,575) for which he can request payment, and the $286,300 severance payment to the former men's basketball coach appears excessive. The university paid almost $700,000 in credit card convenience fees over three years instead of requiring credit card users to pay these fees.
Receipts of $1,908 were missing, but weak internal controls over Show-Me Center concession receipts made it difficult to determine which employee was responsible. The university needs to improve its closed meeting procedures and maintain support for the rates charged for use of university facilities. The university does not maintain adequate support for the taxable mileage reported on employees' W-2 forms, and it has not developed an adequate disaster recovery plan.
To view the complete audit report, Citizens Summary and audit rating scale, visit http://www.auditor.mo.gov/press/2012-05.htm.