|Financial Audit Division Report 10-20||Released June 15, 2010|
St. Cloud State University generally had adequate internal controls over its major financial activities, such as tuition and fees, employee salaries, and operating expenses.1 These controls generally ensured that the university safeguarded assets, accurately paid employees and vendors in accordance with management’s authorization, produced reliable financial information, and complied with finance-related legal requirements. However, the university had some control weaknesses and noncompliance in certain areas that have a high-risk for errors, including security access to financial systems, management of university-issued credit cards, and employee expense reimbursements.
For the items tested, St. Cloud State University did not comply with some legal provisions related to credit cards, employee expense reimbursements, delegation of authority, procurement, revenue and expense contracts, auxiliary operation receipts, tuition and fee rates, and leave benefits.
St. Cloud State University resolved 6 of the 7 prior audit findings relevant to this audit.2 However, the university did not fully resolve prior audit Finding 13 related to its computer store operations. We repeat this finding as Finding 14. In addition, the university did not resolve four prior findings identified as MnSCU systemic issues in prior reports on other colleges, and we repeat these issues in Findings 2, 4, 13, and 17. 3
||July 1, 2007, through December 31, 2009|
1The audit scope did not include student financial aid.
2Minnesota Office of the Legislative Auditor, Financial Audit Division Report 01-20, St. Cloud State University, issued April 26, 2001. The report contained 14 findings. We did not determine resolution of 4 of these findings because they related to financial aid, which was not in the scope of our current audit. We also did not determine resolution of 3 other findings because they were no longer relevant to the university's operations.
3Minnesota Office of the Legislative Auditor, Financial Audit Division Report 09-30, Minnesota State Colleges and Universities, issued September 8, 2009. This report contained four systemic findings, which we define as an internal control or compliance weakness noted at a majority of colleges or universities that we believe can most effectively be resolved by directive, guidance, or oversight by the Office of the Chancellor.