B OARD of G OVERNORS State University System of Florida Audit and Compliance Committee September 12, 2018 www.flbog.edu www.flbog.edu B OARD of G OVERNORS State University System of Florida 1
STATE UNIVERSITY SYSTEM AUDIT COVERAGE University CAEs www.flbog.edu B OARD of G OVERNORS State University System of Florida 2
FLORIDA AUDITOR GENERAL • Financial Audits • Operational Audits • Statewide Federal Awards Audit • Bright Futures Program Audit • Information Technology Audits www.flbog.edu B OARD of G OVERNORS State University System of Florida 3
AUDITOR GENERAL - FINANCIAL STATEMENT AUDITS FY 2017-2018 • Financial Statements – Fairly Presented • Internal Controls – No Material Weaknesses or Significant Deficiencies • Noncompliance - None www.flbog.edu B OARD of G OVERNORS State University System of Florida 4
AUDITOR GENERAL - OPERATIONAL AUDITS SCOPE IT security and access controls Severance pay Purchasing card transactions Fraud policy & procedures Board and committee meetings SSN requirements Textbook affordability Conflicts of interest Student receivables Annual property inventory Florida residency determination Distance learning fees Construction administration and tuition Tuition differential fees Cash collection procedures Auxiliary operations contract Audit follow-up – corrective compliance actions Direct support organizations Unencumbered balances Background screenings Expenditures Terminal pay www.flbog.edu B OARD of G OVERNORS State University System of Florida 5
AUDITOR GENERAL - OPERATIONAL AUDITS BY CATEGORY (FY 2017-2018) Information Technology (IT) Direct Support Organizations Textbook Affordability Personnel & Payroll Internal Controls/Compliance Findings Category Cash Management & Collections Tuition Pcard Fees Contracting & Procurement Construction 0 1 2 3 4 5 6 7 Number of Findings www.flbog.edu B OARD of G OVERNORS State University System of Florida 6
AUDITOR GENERAL - STATEWIDE FEDERAL AWARDS AUDITS • AG Audit of Major Federal Awards Programs • OMB Audit Requirements contained in Title 2 U.S. CFR Part 200 (Uniform Guidance) • Student Financial Assistance – $3.3 billion • Three findings related to state universities www.flbog.edu B OARD of G OVERNORS State University System of Florida 7
AUDITOR GENERAL - FLORIDA BRIGHT FUTURES SCHOLARSHIP PROGRAM Report No. 2018-212, issued June 2018 Finding: Untimely return of undisbursed advances to FDOE within 60 days after the end of the regular registration period. University Amount Days Late FIU $499,853 21 UF $215,276 10 www.flbog.edu B OARD of G OVERNORS State University System of Florida 8
AFFILIATED SUPPORT ORGANIZATIONS Audits and Management Letters • Direct Support & Health Services Support Organizations [Board of Governors Regulations 1.001 and 9.011] • Faculty Practice Plans [Board of Governors Regulation 9.017] • Self-Insurance Programs & Captive Insurance Companies [Board of Governors Regulation 10.001] Additional Reports: • Collegiate License Plates • Intercollegiate Athletics www.flbog.edu B OARD of G OVERNORS State University System of Florida 9
AFFILIATED SUPPORT ORGANIZATIONS • Financial Statement Audits – All but one were fairly presented • Internal Controls over Financial Reporting University Affiliated Support Org. Material Weakness Significant Deficiency FAMU Rattler Boosters, Inc. Proper Accounting Records Disbursements and Accounts Receivable National Alumni Association Bank Reconciliation Foundation Bank Reconciliation FAU Research Corporation, Inc. Account Reconciliation and Year ‐ end Closing Procedures FSU Seminole Boosters, Inc. Financial Reporting Audit Trail UF Florida Health Professional Segregation of Duties in Clinical Association, Inc. Health & Psychology Office • 10 Management Letters issued with concerns noted www.flbog.edu B OARD of G OVERNORS State University System of Florida 10
UNIVERSITY CHIEF AUDIT EXECUTIVES • Internal Audits o Performance Audits o Contract Audits o IT Audits University CAEs www.flbog.edu B OARD of G OVERNORS State University System of Florida 11
UNIVERSITY CAE AUDITS RECEIVED FY 2017-2018 Internal Controls/Compliance Information Technology (IT) Personnel & Payroll Pcard Cash Management & Collections Travel Performance Based Funding (PBF) Property & Inventory Findings Categories AR/Revenue Collections Contracting & Procurement Health and Safety Construction Purchases/Expenses Fees Tuition OTHER Textbook Affordability Grant Management University Athletics CAEs 0 20 40 60 80 100 120 140 160 180 Number of Findings www.flbog.edu B OARD of G OVERNORS State University System of Florida 12
INTERNAL CONTROLS & INFORMATION TECHNOLOGY FINDINGS Top 3 Sub-categories Inadequate Documentation Internal Controls Compliance Training Security Controls Information Technology Access Controls Policies and Procedures University CAEs www.flbog.edu B OARD of G OVERNORS State University System of Florida 13
PERFORMANCE-BASED FUNDING DATA INTEGRITY AUDIT RESULTS University CAEs www.flbog.edu B OARD of G OVERNORS State University System of Florida 14
B OARD of G OVERNORS State University System of Florida www.flbog.edu www.flbog.edu B OARD of G OVERNORS State University System of Florida 15 Rev. 2014
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