The (state) Auditor General's report on its review of FAMU's 2005 finances has been delayed until May. We hear, that the report which was initally due in March has warranted closer examination by state officials to verify some of the claims made by FAMU's conusultants KPMG.One of the things we are hearing is that FAMU never really had a deficit to begin with, much less one in the $23-$53 million range as has been widely reported in the press. Preliminary reports indicate, FAMU had difficulty locating the money it had, but not an actual deficit. We are told to brace oursleves, this could be the worst audit since 1976.
The "Incredible Shrinking Surplus" story you posted months ago showed the inconsisties in the financial reports that Castell Bryant and KPMG had given to the public. First, they reported a $50+ million deficit and an $8 million surplus. Then, Challis Lowe's response to Barney Bishop reported a $3 million deficit and a $5 million surplus.
ReplyDeleteFAMU's financial house was not perfect when Frederick Humphries left. However, the current troubles resulted from poor book keeping and general confusion rather than any "lost money."
When James Corbin took control of FAMU, he pushed Fred Gainous to fire all the senior members of the controller's office. There was no transfer of institutional knowledge. That threw our entire financial operation into chaos.
Bryant used the so-called "deficit crisis" as a justification to implement martial law at FAMU, setting the stage for her to wield unchecked control. When she shut down the recruitment program and slashed the research division to bits, most FAMUans remained silent.
Lee Hall is full of lies, deception, and incompetence. It's time to send Bryant and her yes-people back to the community college system.
Yep, a closer review is what you get when you call into question the integrity of your auditors by blasting previously approved work that they signed off on.
ReplyDeleteJames Corbin made it clear that he would never permit white people to have any role in mananaging FAMU's financial divison. The state auditor general's office stated publicly that Larry Reese and Elwood McElhaney were making progress in turning FAMU's financial division around. However, Corbin and Castell Bryant were still determined to get rid of those two employees because (1) they were white; and (2) they were hired by Fred Gainous.
ReplyDeleteReese was also instrumental in developing FAMU's original NSF settlement. When Bryant refused to honor that settlement, NSF threatened to cut off all its grants to our university. As a result, FAMU had to face months of negative press and finally pay a much more expensive settlement.
I not claiming that Reese and McElhaney were perfect. Personally, I wish Gainous would have searched harder for black candidates for the VP of Fiscal Affairs and Controller's positions. However, there is no excuse for treating any employee unfairly--black or white. Reese and McElhaney were not treated in a professional or ethical manner.
The flagrant, racial bigotry that Corbin and Bryant showed in dealing with Reese and McElhaney is known all across the state. And furthermore, the lies our administration told in order to justify firing Reese and McElhaney are being exposed.
This actually goes back further than Larry Reese and Elwood McElhaney. It dates back to when Gainous unceremoniously dismissed the financial staff without cause.
ReplyDeleteThe only "cause" for dismissing the V.K. Sharma, Marie Shetty, and Robert O'Kelley was that they were on James Corbin's 2002 hitlist (like most of Frederick Humphries' hires). Fred Gainous pulled the trigger, but Corbin was the one who gave the order.
ReplyDeleteThe state auditor general's office cited the lack of institutional knowledge in the financial division as one of the main reasons for FAMU's book keeping problems. Corbin, Challis Lowe, R.B. Holmes, and Bill Jennings all directed the blame toward Gainous--although they all knew that the BOT chairman had pressured him to fire all the senior controller's office officials at once.
Where is Mr. Corbin now? Rattlers from all over owe him a beat down on sight!
ReplyDeleteMr. Corbin is probably out somewhere pointing blame towards his usual scape-goats: Fred Humphries, Fred Gainous, or white people in general.
ReplyDeleteCorbin never accepted any responsibility for the multi-million dollar damaged he inflicted on our institution. Even when he was caught red-handed he used the Shaggy defense: "It wasn't me."
Good sleuthing, da rattler. The State Auditor General's website makes it clear that something out-of-the-ordinary is happening with FAMU's audit.
ReplyDeleteOur university's audit is the ONLY ONE that has not been released!
Check the dates the other public university audits were released:
-Florida Atlantic: 3/28/06
-Florida Gulf Coast: 1/24/06
-Florida International: 2/21/06
-Florida State: 4/5/06
-New College: 2/10/06
-Central Florida: 2/24/06
-Florida: 3/17/06
-North Florida: 3/21/06
-South Florida: 3/3/06
-South Florida (St. Pete): 1/27/06
-West Florida: 4/7/06
SOURCE:
http://www.myflorida.com/audgen/pages/subjects/university.htm