State University of New York

Maritime College: Selected Financial Management Practices

Maritime College trains students to become licensed officers in the American merchant marine. We examined the College's internal controls and identified significant weaknesses. For example, because employees who lived in residences owned by the College were not charged appropriate rent, the State lost as much as $417,000 in rent revenue during our audit period. We also determined that rent was not charged to a number of employees who were allowed to live in College dormitories. We further found that more than one-quarter of the students attending the College at the time of our audit had yet to pay tuition and fee charges. One former student, who owed more than $42,000 in tuition and fees, was employed by the College and was allowed to live in a dormitory. We make a number of recommendations for improving the College's internal controls.

For a complete copy of Report 98-S-26 click here.
For a copy of the 90-day response click here.