The Texas A&M athletic department lacks control of its finances, according to an audit obtained by the Express-News.
The department "requires significant improvement in its financial controls and processes," according to the 25-page report that reviews a span from September 2007 to December of last year. Six accountants from the A&M system performed the internal audit.
Two high-ranking A&M officials said Wednesday that athletic director Bill Byrne's job was not in jeopardy based on the findings. Byrne, who couldn't be reached for comment Wednesday night, addressed the audit in his weekly online column.
"The auditors also made one very serious observation," Byrne wrote. "During the period under audit, they believed that we had limited monitoring of, and limited accountability for, daily financial operations. And during that time, the auditors were correct."
about 2 years ago
Seth C
5 comments
0 recs |
Email
PrintComments
The above audit makes me hope that TTU can undergo a similar one and be able to say that the finances are run well. The operation of finance is not an easy assignment in an organization that has as many varied costs managed by individuals, travel expenses, hosting expenses, and perhaps other discretionary expenses can be difficult to manage.
It also makes me wonder what, if anything, the NCAA does with regard to holding it member schools accountable for managing budgets within NCAA sanctions….shouldn’t we hear reports from this process?
Here's an idea
Hire Tech graduates to get your finances in order.
"You've got to find your inner pirate" - Mike Leach
by Raider1992 on Dec 18, 2009 10:05 AM CST reply actions 2 recs
Comments For This Post Are Closed
Secondary Sidebar
User Tools
FanPosts
Community blog posts and discussion.
Certain photos copyright © 2012 by Associated Press or Getty Images. Any commercial use or distribution without the express written consent of Associated Press and Getty Images is strictly prohibited.
