Summary

Our operational audit for the fiscal year ended June 30, 2007, disclosed the following:

Finding No. 1:  The University did not always timely obtain sabbatical or professional development leave reports.

Finding No. 2:  The University did not adequately monitor cellular telephone (cell phone) usage, and did not report to the Internal Revenue Service the value of cell phone services as income for employees who did not make an adequate accounting of the business use of their assigned cell phones.

Finding No. 3:  The University needed to improve its procedures for determining insurable values for buildings and other structures and improvements, and the University’s written policies and procedures did not address the level of insurance coverage to be maintained or the method to be used to determine insurable values.

The University's response is included as Appendix B of this report.