The following is a list of recommendations from S.C. State’s internal audit of the Lowcountry Classic:

The university should assign a project number to activities that generate transactions across multiple departments.

The university should make its accounting software more user-friendly and provide training.

The university needs full access to transactions and reporting of activities conducted by its foundations.

S.C. State must create a process to reconcile all sponsorship and contribution activity. There should be a reasonable effort to obtain any outstanding pledges.

There should be a review to determine how in-kind contributions are accounted for.

All donations checks should be written directly to the university. Donations checks written to other entities should be reviewed.

The university should establish a policy concerning the distribution of complimentary tickets for fundraisers.

S.C. State should ensure proper controls over financial resources for fundraisers and maintain documentation.

A policy for signing contracts should limit who can sign contracts on behalf of the university and establish an approval process.

S.C. State should ensure the intended use of donations are carried out.

The university should address and review the nature of its relationships with university-related foundations.

You must be logged in to comment.