FNF - NC - North Carolina Central University

(The Center Square) – More than $45 million in financial reporting errors by North Carolina Central University have been found in analysis by the Office of the State Auditor.

The time covered was the year ending June 30 for the University of North Carolina System school in Durham.

First-term Republican state Auditor Dave Boliek said cash was off $4.9 million because of journal entries; there was $8.3 million in overstated supplies and services expense; and expense for scholarships and fellowships was understated by $1.2 million.

"Part of what makes our university system so great is we hold the institutions to high standards and strive to bring the very best out of our public universities," Boliek said in a release. "NCCU’s financial reporting fell far short of the standards expected of our high education institutions, but I’ve had productive meetings with university and UNC system leadership and have confidence NCCU is on a better path."

Within the recommendations from Boliek’s office, the report said, “Personnel in positions that are essential to the financial reporting process are evaluated based on the knowledge and experience necessary for accurate financial reporting.”

And, “Contingency plans are implemented to meet financial reporting objectives during periods affected by inexperienced personnel or vacant positions.”

The university, in its response within the report, said it was establishing a “systematic evaluation process” for personnel as well as contingency plans for staffing shortages or needing to use inexperienced personnel.