2008 Woodie Awards
13 financial problems identified in '08 audit
Matt Morrison
Issue date: 3/17/08 Section: News
"We wouldn't put [the findings] in the report unless we believe them to be significant," Sauerbeck said.
UCF President John Hitt submitted a response to the findings Feb. 21. In most cases, the university pledged to revise its practices. However, for those instances where the audit claims the university acted beyond its legal capabilities, UCF's response is framed more as a difference of opinion.
Regarding the $7.4 million loan to the Athletics Association, which the audit states is not legal, the UCF response states that the audit's finding was "confusing." It goes on to say that "the authority of the university to make loans to direct-support organizations can be implied from the statutes cited in the first paragraph of the finding."
"They interpret the statute one way, and we've interpreted it differently in some of those statue instances," Grant Heston, vice president of UCF News and Information, said.
Heston said the university response to the audit's other findings is ongoing.
"The university is working hard to ensure that our operational practices and procedure are the best that they can be, and the overwhelming majority of them are," Heston said.
Heston declined to comment on the individual findings of the audit, but he said "we will take [the audit] seriously."
Heston also believes every finding is serious.
"We take them all seriously, [and] some are more procedural than others," Heston said.
Heston said that all state agencies go through this.
"This is really just kind of standard operating procedure," Heston said.
When the Future asked for more detail on individual responses, Heston declined and referred to the responses in Hitt's report.
Six of UCF's 13 findings were repeated from a previous audit in 2005, in which was disclosed 14 findings by the Auditor General
Some of these included reimbursing travelers for travel advances in a timely manner and determining insurable values for its buildings were previously documented. Although the university responded to the findings, they failed to correct the problems, according to the audit.
UCF President John Hitt submitted a response to the findings Feb. 21. In most cases, the university pledged to revise its practices. However, for those instances where the audit claims the university acted beyond its legal capabilities, UCF's response is framed more as a difference of opinion.
Regarding the $7.4 million loan to the Athletics Association, which the audit states is not legal, the UCF response states that the audit's finding was "confusing." It goes on to say that "the authority of the university to make loans to direct-support organizations can be implied from the statutes cited in the first paragraph of the finding."
"They interpret the statute one way, and we've interpreted it differently in some of those statue instances," Grant Heston, vice president of UCF News and Information, said.
Heston said the university response to the audit's other findings is ongoing.
"The university is working hard to ensure that our operational practices and procedure are the best that they can be, and the overwhelming majority of them are," Heston said.
Heston declined to comment on the individual findings of the audit, but he said "we will take [the audit] seriously."
Heston also believes every finding is serious.
"We take them all seriously, [and] some are more procedural than others," Heston said.
Heston said that all state agencies go through this.
"This is really just kind of standard operating procedure," Heston said.
When the Future asked for more detail on individual responses, Heston declined and referred to the responses in Hitt's report.
Six of UCF's 13 findings were repeated from a previous audit in 2005, in which was disclosed 14 findings by the Auditor General
Some of these included reimbursing travelers for travel advances in a timely manner and determining insurable values for its buildings were previously documented. Although the university responded to the findings, they failed to correct the problems, according to the audit.