Report Summary
Financial Audit
South Central Technical College
July 1, 1997, through December 31, 1999
South Central Technical College operated within available resources. Except as noted below, the college complied with applicable legal provisions and its internal controls provided reasonable assurance that assets were safeguarded and financial activities were properly recorded.
Key Findings:
- The college needs to improve controls over certain resale revenues. (Findings 1 and 2, pages 10-11)
- The college did not allocate indirect costs to the bookstore and food service operations or reflect the benefit of services the bookstore provided to the college's general operations. (Finding 3, page 11)
- The college did not adequately document some employee travel expenses and paid membership dues at a private club. (Finding 4, page 16)
College Response:
South Central Technical College agreed with the report's findings and is taking corrective action to resolve the issues.
