Audit Committee Materials - March 13 2018-no page # Background Image
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Institution Report Release

Date

Recommendation

Responsible

Staff

Date

Management’s

Actions to be

Implemented

Revised Date

Management’s

Actions to be

Implemented

# of Changes to

Date

Management's

Actions to be

Implemented

Initial Date of

Internal Audit

Follow-up

Most Recent

Date of Internal

Audit Follow-up

Status

TBR SWIA - Status Report on State Audit Findings

(Reports sorted by Status, Institution, Report Release Date)

NeSCC

7-Sep-16 NeSCC FY 2014-15: LOU-NeSCC did not provide adequate internal

controls in four specific areas

Management should ensure that these conditions are remedied by the

prompt development and consistenet implementation of internal

controls. Management should implement effective controls to ensure

compliance with applicable requirements; assign staff to be responsible

for ongoing monitoring of the risks and mitigating controls; and taken

action if deficiencies occur.

CIO

15-Jan-17

31-May-18

4

23-Mar-17

13-Oct-17

In Progress

RSCC

7-Sep-16 RSCC FY 2014-15: LOU- Management did not provide adequate internal

controls in three specific areas

Management should ensure that these conditions are remedied by the

prompt development and consistent implementation of internal

controls. Management should implement effective controls to ensure

compliance with applicable requirements; assign staff to be responsible

for ongoing monitoring of the risks and mitigation controls; and take

action if deficiencies occur.

CIO

15-Jan-17

31-May-17

3

1-Mar-17

19-Jan-18

In Progress

STCC

29-Jun-17 STCC-FY 2014-15: Management needs to improve procedures for

preparing and reviewing financial statements to prevent errors.

1-Dec-17

0

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: - The college has not properly reported the costs

associated with construction projects.

1-Dec-17

0

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: - Management did not approve employee timesheets

prior to payroll preparation.

1-Dec-17

1-Jun-18

1

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: - The college does not have controls in place to ensure

compliance with the requirements of the Federal Work Study program.

1-Dec-17

0

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: - The college did not prepare proper bank

reconciliations.

1-Dec-17

28-Feb-18

0

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: The college did not have adequate controls over credit

cards.

1-Dec-17

0

19-Jan-18

In Progress

STCC

29-Jun-17 STCC FY 2014-15: As noted in the prior audit, the college did not provide

adequate internal controls in five specific areas.

CIO

1-Dec-17

0

22-Jan-18

In Progress

VSCC

6-Dec-17 VSCC FY 2015-16: As noted in the prior audit, Volunteer State

Community College did not provide adequate internal controls in two

areas.

Chief Information

Officer

31-Mar-18

0

In Progress

VSCC

6-Dec-17 VSCC FY 2015-16: The college used incorrect term start date to calculate

Title IV funds earned by students who withdrew in the spring 2016

semester, resulting in some unearned funds not being returned to the

federal government.

Director of

Financial Aid

30-Sep-18

0

Not Yet Due

4