State University of New York
College at Old Westbury, Selected
Financial Management Practices We audited selected internal controls at
the College at Old Westbury and found that improvements are needed in the controls over
cash collections and disbursements, accounts receivable, equipment inventories and computer
systems. For example, at the time of our audit, the College had more than $113,000 in
checks on hand that had not been deposited or restrictively endorsed, including 60 checks for
$99,000 that had been on hand for up to two months, and outstanding student accounts
receivable were not reviewed and forwarded to the Attorney General's Office for collection
on a regular basis. In addition, the back-up copies of the computer files were stored so close
to the main system that their safety could not be ensured in case of a disaster.
For a complete copy of 95-S-52 click here.
For a copy of the associated follow-up report click
For a copy of the 90-day response click here.