LINCOLN, Neb. (AP) — A state audit has found numerous irregularities and poor accounting at Nebraska’s three state colleges.
The audit reviewed records for 2016-17 at Wayne, Peru and Chadron State colleges.
Stan Carpenter is chancellor of the Nebraska State College System. He says many of the discrepancies involved the incorrect classification of items. The report says reclassifying items moved balances across different lines and didn’t change net assets.
Audit manager Kris Kucera says the numerous errors found in the report were eventually corrected.
The Auditor’s Office found that the college system needs more knowledgeable staff members to handle financial statements to meet governmental accounting standards. The report says one person was generally in charge of overseeing the statements without review procedures to ensure accuracy and consistency.