A brand new report finds that $41 million in state appropriations “weren’t correctly restricted and in some cases have been co-mingled with different funds” at Oklahoma State College in violation of state legal guidelines and insurance policies, in keeping with an inside audit obtained by media shops within the state.
The audit—performed by an workplace of the Oklahoma Agricultural and Mechanical Schools Board of Regents, which oversees Oklahoma State and different public establishments—discovered “vital points within the allocation and administration of legislatively appropriated funds” at OSU.
The report discovered examples of such funds being transferred improperly, together with $11.5 million for aerospace, well being and polytechnic packages being directed to the OSU Innovation Basis as an alternative, with out a contractual settlement or approval from regents.
“Consequently, some state appropriated funds have been utilized for unauthorized and unrelated functions, and weren’t retained in full by OSU, the meant recipient,” the audit discovered.
A college spokesperson informed the Tulsa World that “whereas the monetary choices and transactions which occurred are regarding, they have been remoted and don’t impression OSU’s general monetary basis.”
The audit additionally referred to as on Oklahoma State to enhance monetary oversight and transparency.
Although the audit didn’t title former president Kayse Shrum, who resigned abruptly with out rationalization final month, it indicated the alleged misappropriation occurred throughout her administration. Shrum didn’t look like interviewed as a part of the audit, in keeping with an inventory of people who have been contacted as a part of the investigation into the usage of appropriated funds.
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