Purpose of Audit

The purpose of our audit was to review the College’s processes for billing, collecting and recording tuition and fees for the period September 1, 2014 through May 31, 2016.

Background

Hudson Valley Community College, founded in 1953 as part of the State University of New York system, is located in the City of Troy in Rensselaer County. The College is governed by a 10-member Board of Trustees. Budgeted appropriations for the 2014-15 fiscal year totaled approximately $94 million.

Key Findings

• The District did not retain information related to deleted receipts.
• Officials did not use a tracking feature to identify changes made within the Enterprise Resource Planning (ERP) system.

Key Recommendations

• Ensure that the IT department preserves all sequentially numbered receipts and other documents when conducting file maintenance procedures.
• Regularly review the ERP system’s audit trail and use other available internal controls provided by the system.