Management Improvement Plan will address policy and procedures that address the ethical climate of the University. Personnel will receive training once approved.
Finding 8: KSU Provide Insufficient Oversight of Its Procurement and Expenditure Processes.
All appropriations, expenditures, disbursements, or contracts greater than $50,000 be presented to the KSU Board of Regents for approval prior to purchase or execution of contract.
KSU bundle repeat purchases that may in total exceed the threshold for formal or informal bidding to obtain the best price on all items purchased or services provided.
KSU ensure that final, signed copies of all contracts are provided to KSU's official records custodian such as General Counsel, Purchasing Director, or other designated party as deemed appropriate per policy.
KSU work with Banner to create a method to query their data to generate a list of all contracts and contract expenditures.
KSU upload any missing contracts or supporting documentation that are missing from the contract management system but have not met the threshold for destruction. See additional discussion and recommendations pertaining to KSU's record retention at Finding 15.
KSU develop training for credit cardholders to ensure consistent application of policies and procedures. This should include, at a minimum, guidelines on appropriate usage, tracking, receipt requirements, and approvals.
KSU develop and implement training procedures for employee travel.
Travel expenses be encumbered.
In accordance with KSU policy and Management Improvement Plan (CPE) all purchases of $5,000 and below are approved by CFO or designee. All purchases $5k or more are approved by President and CPE. Greater than 50k require President, Board, and CPE. Purchases must conform to the KSU Purchasing policy and when applicable KY Model Procurement Code and the Government Contract Review Committee. KSU submits all appropriations, expenditures, disbursements, or contracts greater than $50,000 to the KSU Board of Regents for approval prior to purchase or execution of contracts. Also, all expenditures greater than $5,000 must be reviewed and approved by VP of Finance and Administration.