President’s Update: Audits and the Legislative Joint Auditing Committee Meeting

Subpoenas compel former administration members Glen Jones, Brett Powell, and Jonny Hudson.

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President’s Update: Audits and the Legislative Joint Auditing Committee Meeting

Editor’s note: The following message was shared on the evening of Friday, Jan. 24 by Acting President Elaine Kneebone following the audits and legislative joint auditing committee meeting. At the bottom of the page are links to the related audits.

 

Dear Campus Community,
As I shared yesterday, the state conducts an annual audit of the university’s finances. Our state audits for fiscal year 2017-18 and fiscal year 2018-19 were reviewed by the Legislative Joint Auditing Committee today.   
The Committee discussed but declined to approve the audits today and requested that additional information be presented at its next meeting on Feb. 28. The Committee expressed a desire to hear from some past and present administrators and trustees who may be able to provide information about university’s governance or financial decisions in fiscal year 2017-18 and fiscal year 2018-19.  The Committee will issue subpoenas compelling the attendance of Glen Jones, Brett Powell, and Johnny Hudson and will send letters requesting the appearance of trustees who served during those periods along with myself.  
We have worked diligently during the past months to close last fiscal year’s accounts, address the deficit through operational changes to align expenses to available revenue, and create an entirely new and more transparent monthly accounting of revenue and expenditures. The university will cooperate fully to provide additional information as requested by the Legislative Joint Auditing Committee. I want you to be aware of this process and know that we are working diligently to obtain approval of our audits and move forward. Please let me know if you have any questions or concerns. Thank you, Elaine