Audit: Financial mismanagement is costing UNM lots of money
ALBUQUERQUE, N.M. (AP) — A special audit of the University of New Mexico’s athletics department and affiliated fundraising operations found the school has received $256,000 less than it should have from its athletics marketing contractor.
State Auditor Tim Keller tells the Albuquerque Journal that the problems will continue unless UNM designates a full-time financial officer and requires better accountability of the athletic department and its fundraising arms.
The 58-page audit report also found that the UNM had provided donor-related perks to 23 people who had made no monetary contributions to the university or its fundraising arms, overpaid three coaches and mistakenly paid for a women’s basketball player’s scholarship with money donated specifically for the ski team.
UNM officials don’t dispute most of the findings and say the school already is addressing many of them.
Information from: Albuquerque Journal, http://www.abqjournal.com