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093289 1 (1972-09-02)

handle is hein.gao/gaobacxdf0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON REGIONAL OFFICE U-4 FIFTH FLOOR 803 WEST BROAD STREET FALLS CHURCH, VIRGINIA 22046 SEP 2 1972 Dear Mr. Cardwell: The General Accounting Office has reviewed the financial management procedures and practices of Gallaudet College. Our review, which vas directed principally toward settlement of certifying officers' accounts, included tests of financial transactions and an evaluation of the College's internal controls relating to expenditures of federally appropriated funds. The review was concerned primarily with procedures and practices in effect during fiscal years 1971 and 1972. We found that the College's controls over expenditures of federally appropriated funds were generally satisfactory. We noted the following matters, however, which we believe warrant your attention. Financial management weaknesses identified by a special study of the College's fiscal operations Under a contract with the College, a comprehensive management study of the College's fiscal operations was made by Price Waterhouse & Co. in late 1970 and early 1971. The study report, issued in March 1971, stated as its major findings that --the organization for fiscal operations had not developed commensurately with the growth of the College and thus, in many ways, did not satisfy the needs of the College, --staffing at certain key supervisory and staff levels was generally inadequate because the incumbents were under- qualified for their positions, and -the existing accounting system generally did not meet the financial reporting needs or, to a lesser extent, the full internal control needs of the College. The report contained 82 recommendations for effecting major changes in these areas; 70 of the recommendations dealt with the College's account- ing and related systems. r4O-4 _____

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