An audit done on Mesa State's Real Estate Foundation shows “significant deficiencies”, all pointing to how the foundations finances are handled.
One year has passed for Mesa State College's Real Estate Foundation, or MSCREF, and an annual audit was done and no money was found missing, but control issues were highlighted. MSCREF responsibilities are not distributed evenly. Tim Foster's assistant performs all bookkeeping duties and Foster authorizes all cash transactions. The problem with this is that no one has this authorization.
MSCREF said they are going to give proper authority to the college's president, at its Board of Directors meeting at the end of the month.
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