Education
A Financial Review of Midwestern State University
November 2001
Report Number 02-009
Overall Conclusion
The Legislature and other oversight bodies can rely on Midwestern State University's
financial information. The structure of the University's financial system and
its financial processes are designed to ensure that the information is recorded
accurately and consistently. The University is spending appropriated funds in
accordance with limitations set forth in the General Appropriations Act and
other applicable state laws and regulations. We can only provide limited assurance
on the alignment between expenditures and outcomes because the University's
expenditures and outcomes correlate with its appropriations for Educational
and General State Support, not with specific strategies.
Key Facts and Findings
- Midwestern State University is providing accurate and consistent financial
information to the Legislature, the University's Board of Regents, and University
management.
- The University is using appropriated funds in accordance with applicable state laws and regulations.
- It is difficult to determine the relationship between expenditures and outcomes. We are giving limited assurance on the alignment between expenditures and specific strategies because the University's expenditures and outcomes do not correlate with specific strategies. Instead, the University's expenditures and outcomes correlate with its state appropriations for Educational and General State Support. The University is expending funds appropriated for Educational and General State Support in accordance with applicable state laws and regulations.
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