A Financial Review of Texas State University – San Marcos
October 2003
Report Number 04-008
Overall Conclusion
Texas State University - San Marcos's (University) systems and procedures allow the University to report accurate and consistent financial statement information on a summary level to the Legislature, the Texas State University System, and University management. However, the University has failed to resolve a long-standing discrepancy in a bookstore cash account, despite recommendations from its Internal Audit Department. While the account is out of balance by approximately $310,000, it does not significantly affect the University's Annual Financial Report (AFR) because of the summarized nature of university AFRs. Our Special Investigations Unit is presently investigating the situation and will issue a separate report. In addition, the University did not include contracts totaling $52 million in its report to the Legislative Budget Board. The Legislative Budget Board provides entities' contracting information to the Legislature and the public.
The University generally uses state appropriations and local funds in accordance with applicable state laws and regulations, and it has adequate processes to manage its contracts and grants.
Our audit also found that the University does not adequately protect its information technology resources.
Contact the SAO about this report.
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