On Thursday, the outside auditing firm FAMU hired to investigate the circumstances surrounding the improper transfer of funds from the university’s auxillary accounts to the athletic department is expected to conclude its work. Among the issues the investigation is to address are the exact dollar amount transferred, and exactly who knew what and when.
At the time that the improper transfer of funds became public, BOT Chairman Kelvin Lawson told the state Board of Governors (BOG) that he believed the amount in question to be “in the $1.5 to $3 million range.”
On June 13, VP of Audit and Compliance Joe Malesewski and BOT Chair Lawson told members of the BOG that an outside firm would be brought in to perform an investigation to uncover many of underlying issues that lead up to the transfer. At that time, Malesewki told the BOG that he expected the firms work to be completed by August 1.
Malesewki and Lawson are expected to update the BOG on the reports’ findings at its next meeting on August 28-29th at Florida Gulf Coast University.
The financial scandal has already cost three top financial officers --- the CFO, budget director, and the comptroller--- their jobs.
Once completed, Malesewski and the outside firm will deliver the report to the FAMU Board of Trustees. It's unclear when the report will become public.