Castell didn't accurately reflect budget revenues and expenditrues• University’s accounting records did not accurately reflect budgeted revenues and expenditures per the Board of Trustees-approved operating budget. Also, contrary to Board policy, the operating budget did not include all planned revenues and expenditures, and several budget amendments were not approved by the Board or President.
Couldn't account for meal money on student travel
• University records did not evidence that travel payments for student meals were actually disbursed to the students.
Castell skirted state contract laws
• The University did not always procure contractual services using the competitive selection process prescribed by the Board of Governors regulations and University rules, or properly and timely document that such procurements were exempt from competitive selection requirements. ( i.e. KPMG contract, Hollins Group ... )
Athletic Department discarded financial records
• Athletic Department reported ticket sales revenues totaling $1,823,389 for the 2005-06 fiscal year. However, University personnel informed auditors that records supporting ticket sales were inadvertently discarded and were not available for auditors review. This prevented auditors for performing test to determine whether amounts collected were reported and deposited.
Read the audit for yourself
FAMU's response
Auditors rap FAMU with 35 findings
FAMU holds up audit
Where can one find a copy of this audit? The links I've seen don't work.
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