Audit Reports Affecting Multiple Agencies
An Audit Report on University Formula Reporting
Report Number 95-027
The 15 universities audited are in compliance for 99.7 percent of their $1.2 billion in biennium appropriations generated by semester credit hours.
Our formula funding audit indicates that $5,660,501 should be considered for reduction to the universities affected due to overreporting of semester credit hours. Consideration should also be given to underreporting of semester credit hours which should increase appropriations to the affected universities by $2,532,354.
Our review of the fiscal year 1994-1995 Requests for Legislative Appropriations noted that the actual fiscal year 1992 education and general revenue amounts were materially accurate.
Controls over the reporting of formula funding data should be improved to prevent errors. Errors were noted in reporting class size, tuition payment, student semester credit hours based on add/drop dates, and students' classification.
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