The Board of Governors at Missouri Western State University heard a draft version of the audit report for fiscal year 2015 during their regular meeting Oct. 22. Auditors from CliftonLarsonAllen issued a clean opinion, finding no material weaknesses in Missouri Western’s accounting procedures.
“The whole campus participates in an audit, whether the auditor is sitting in their office or not,” said Dr. Cale Fessler, vice president for financial planning and administration. “This clean opinion is a reflection of the responsible way everybody at Missouri Western approaches our finances.”
There was one deficiency reported. A third-party service provider hired by Missouri Western failed to report enrollment changes to the federal government’s student loan program by the time required in federal regulations.
“Every single community college, college, private, public, across the country will have this finding this year, because many, many of them use this provider,” said Barb DuBois of CliftonLarsonAllen. The audit notes that Missouri Western is adding procedures to provide oversight of the services provided by the vendor.
The Board of Governors will be asked via telephone poll to approve the audit once it is finalized in the next few days. It took longer to draft the report this year because of significant changes in accounting procedures concerning pension liability, DuBois said.
Missouri Western State University is a comprehensive regional university providing a blend of traditional liberal arts and professional degree programs. The university offers student-centered, high quality instruction that focuses on experience-based learning, community service, and state-of-the-art technology. Missouri Western is located in St. Joseph, Mo., and is committed to the educational, economic, cultural and social development of the region it serves. Visit www.missouriwestern.edu.