An internal audit revealed significant mismanagement of $41 million in state appropriations at Oklahoma State University (OSU), with funds improperly restricted and co-mingled with other sources. Specifically, $11.5 million allocated for designated programs was diverted to the OSU Innovation Foundation without proper contracts or approval. The findings raised concerns about the oversight and transparency within the university's financial operations, although a spokesperson insisted these issues were isolated incidents and did not jeopardize OSU’s financial integrity. The audit occurred during former president Kayse Shrum's tenure, who resigned recently without explanation, raising further questions about the oversight during her administration.
The report indicates significant issues in the allocation and management of legislatively appropriated funds at Oklahoma State University, highlighting funding mismanagement.
The audit reveals $41 million in state appropriations were improperly restricted, with examples including $11.5 million misdirected to the OSU Innovation Foundation.
#oklahoma-state-university #state-appropriations #financial-mismanagement #audit-reports #transparency-in-finance
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