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Dear Colleague Vol. 1, No. 3

October 19, 2010 by Web Strategy and Development

West Mall

West MallMissouri State University has a long tradition of, and strong commitment to, the concept of “continuous improvement.” That philosophy has led to productive changes over the years and is one of the reasons the University is so well-positioned today.

There are many ways we achieve continuous improvement. For example, we monitor and implement best practices, we measure ourselves against national metrics and we compare ourselves to benchmark institutions.

One of the best ways to encourage continuous improvement, however, is to gain independent perspectives from those outside the University. That is why we use and value peer reviews, accreditation visits, consultants and our annual financial audit by an external accounting firm.

This afternoon (Tuesday, October 19), we officially received another perspective when the state auditor released the audit report on Missouri State University. Also see the University’s official response to the audit.

We very much appreciate the time and effort that went into this audit, and we will seriously consider the various recommendations. As you will see from the report, we have agreed with many of the recommendations, and several have already been implemented.

Soon after I arrived, in anticipation of this audit report, I named a three-person committee to evaluate the audit and advise me on which of the recommendations we should implement. That committee has been formed and it will now begin its work. The members are: Clif Smart, general counsel (chair); Dick Williams, head of the school of accountancy; and John McAlear, secretary to the Board. Based on advice from that group, we will make changes and implement the recommendations that make sense for Missouri State.

We thank the state auditor for another perspective that helps us toward our goal of continuous improvement.

 Sincerely,

James E. Cofer, Sr.

President

Filed Under: Cofer, Dear Colleague Letters, Financial Outlook Tagged With: audit

Missouri State responds to State audit report

October 19, 2010 by Web Strategy and Development

On Tuesday, Oct. 19, State Auditor Susan Montee held a news conference on the Missouri State University campus to announce the results of her audit of the university. The auditors began their work in June of 2009 and completed their report just a few days ago. The complete audit is available online at http://auditor.mo.gov/auditreports/highereducation.htm It includes the findings and recommendations, as well as the university’s responses to it. Below, please find the university’s responses to the audit report.

___________________________

Gordon Elliott
2010-11 vice chair of the Missouri State University Board of Governors
and chair of the Board’s Finance Committee

“The Board of Governors thanks State Auditor Montee and her staff for the time and work that went into this report.  We are all well aware of both the value of this report and the time commitment necessary to prepare this report.

“The Board of Governors, President Cofer, and the entire campus community believe in constantly improving. For faculty and academic programs, we accomplish this through outside accreditation and peer reviews. For non-academic programs such as Taylor Health and Wellness Center and intercollegiate athletics, this is accomplished through best-practice standards and periodic reviews. And for finances, it is accomplished through annual independent external audits along with regular reviews throughout the year by our strong internal audit office.

“The review and report from the State Auditor provides another fresh perspective for us to consider toward our goal of making the University a better place to work and study. For that, we are grateful to State Auditor Montee and her staff, even if we do not completely agree with certain conclusions contained in the report. The Board and the University take this report seriously, and we will carefully consider the recommendations contained in it.”

___________________________

James E. Cofer, Sr.
president of Missouri State University

“I believe you always benefit from outside reviews, so I value the input from the State Auditor.  We appreciate the recommendations contained in the report and we will seriously consider them.

“Toward that end, fairly early in September, I established an advisory committee to review the State Auditor’s report and to advise me on the recommendations we should implement. That committee will now begin its work.

“We thank State Auditor Montee and her staff for their contribution to making Missouri State University even better than it already is. We appreciate their time and effort.”

Note: the three members of the advisory committee are: Clif Smart, general counsel (chair); Dick Williams, head, School of Accountancy; and John McAlear, secretary to the Board of Governors and former director of internal audit.)

Filed Under: Cofer, Financial Outlook Tagged With: audit

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