Audit released of Southeast Missouri State University - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Audit released of Southeast Missouri State University

CAPE GIRARDEAU, MO (KFVS) -

Missouri State Auditor Tom Schweich released the audit of Southeast Missouri State University (SEMO).

The overall performance of the university was rated Good, but Schweich pointed out several areas where the university could improve.

The following information is fromMissouri State Auditor Tom Schweich. Click here to view the entire audit.

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.

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