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MTSU auditors, external reviewers report no material findings in recent reviews
Summary
University officials told the Board of Trustees audit committee that recent external and internal reviews produced no material findings, though an internal purchasing-card review found policy noncompliance for one user.
Middle Tennessee State University officials reported to the Board of Trustees Audit and Compliance Committee that recent external and internal reviews of university programs and finances found no material audit findings.
At the committee meeting, Leah Ladley, chief audit executive, summarized three external reports and the university's internal audit work since the last committee meeting. "The Tennessee Department of Transportation fiscal monitoring group issued a desk monitoring review of the Tennessee teachers aerospace education workshop. There were no findings of noncompliance during that review," Ladley said. She also said the Tennessee Comptroller of the Treasury completed its financial and compliance audit for fiscal year 2024 and issued unmodified opinions on the university's financial statements.
Ladley reported that the comptroller's office also released results of agreed-upon procedures on the athletics program's statement of revenues and expenses required by the NCAA, and that the athletics report was submitted to the NCAA by the required January 15 deadline.
On internal work, Ladley said the audit team completed an audit of the Office of the President's expenses for fiscal year 2024 and "there were no reportable issues." A purchasing-card review of one cardholder found no evidence of fraud in the transactions analyzed, but did identify noncompliance with a couple of policies tied to purchasing-card use. Ladley also told trustees that an anonymous hotline allegation about state-fund use in two university areas was reviewed; "no inappropriate use of funds was detected." She said the internal audit plan has been updated and is included in the committee materials.
Trustees and university leaders praised the audit results at the meeting. Dr. McPhee, President of Middle Tennessee State University, thanked audit staff and said the institution's record of few audit findings reflects sustained effort: "It really takes due diligence," he said.
The committee's discussion contained no motions or formal actions related to these reports; items were presented for information and oversight. The internal audit office will continue follow-up on identified policy noncompliance related to the purchasing card and will report next steps in future materials.
