Condition and context: During the audit of fiscal year 2021 financial statements, it was noted that the President's credit card purchases, and other expenditures were not reviewed at the appropriate level of authority.
Recommendation: We recommend that a member of the Board of Regents review the expenditures of the President on a regular basis (i.e., quarterly) to establish transparency around and maintain appropriate oversight of the activities of leadership.
Status: Unresolved. Due to the timing of issuance of the audit report for the year ended June 30, 2021, the University was unable to address this finding during the fiscal year ended June 30, 2022. See finding 2022-005.
139.