OSU audit uncovers smaller shortfall.
Byline: GREG BOLT The Register-Guard
Errors in accounting procedures caused officials at Oregon State University Oregon State University, at Corvallis; land-grant and state supported; coeducational; chartered 1858 as Corvallis College, opened 1865. In 1868 it was designated Oregon's land-grant agricultural college and was taken over completely by the state in 1885. to overestimate o·ver·es·ti·mate
tr.v. o·ver·es·ti·mat·ed, o·ver·es·ti·mat·ing, o·ver·es·ti·mates
1. To estimate too highly.
2. To esteem too greatly. the size of a potential shortfall in this year's budget by almost $6 million, an independent audit revealed.
Instead of a $19.1 million shortfall for the 2001-02 fiscal year, OSU (Open Source UNIX) Refers to the Unix variants that are maintained as open source, which were primarily BSD Unix and Linux until Sun made its Solaris operating system open source in 2005. actually faced a potential overrun of $13.2 million, members of the Oregon State Board of Higher Education The Oregon State Board of Higher Education is the statutory governing board for the Oregon University System. The board is composed of eleven members appointed by the Governor of Oregon and confirmed by the Oregon State Senate. were told Friday. The university apparently included some costs twice in the complicated calculations necessary to figure expenditures under a new budget system adopted by the Oregon University System The Oregon University System (OUS) consists of seven public, four-year universities in the State of Oregon administered by the Chancellor of the OUS, who serves at the will and pleasure of the Oregon State Board of Higher Education. two years ago.
The mistakes were uncovered as part of an outside audit of OSU's budget commissioned by the state board after university officials announced the projected overrun last fall. Oregon State administrators instituted cost-cutting measures as soon as the situation was uncovered and now have balanced the school's budget.
As a result, the shortfall was on paper only and the university never reached the point where it spent more money than it had. OSU President Paul Risser said the discovery of the errors was kind of a mixed blessing mixed blessing
an event or situation with both advantages and disadvantages
mixed blessing n it's a mixed blessing → tiene su lado bueno y su lado malo
, given that the university had put considerable effort into filling a budget hole officials thought was $19 million deep.
"When I got the report on this last night, I didn't know if I should laugh or cry," Risser told the board, which was meeting at the University of Oregon The University of Oregon is a public university located in Eugene, Oregon. The university was founded in 1876, graduating its first class two years later. The University of Oregon is one of 60 members of the Association of American Universities. .
As it was, the audit also showed that OSU had miscalculated the amount it had cut to balance its budget. Instead of $19.1 million, OSU actually cut expenses by $15 million, or $1.8 million more than necessary.
Oregon State Provost Tim White There are several notable Tim Whites including:
Board members expressed differing feelings about the audit, which was performed by the firm Talbot, Korvola & Warwick. Jim Williams Jim or Jimmy Williams can refer to:
In American football:
Board member Tom Imeson of Portland said it was fortunate the errors worked in OSU's favor.
"I'd hate to find out later that somebody had the opposite problem due to the math going in the other direction," he said.
OUS OUS Outside the United States
OUS OneUp Studios
OUS Own Unit Support
OUS Operation United Shield
OUS Ourinhos, Sao Paulo, Brazil (Airport Code)
OUS Oracle Universal Server
OUS Organizational Units officials told the board that Oregon State's experience would help all the universities avoid similar problems. And OUS Chancellor Joe Cox commended Risser and his staff for acknowledging the problem quickly and taking steps to fix it.
Geri Richmond, a board member and UO chemistry professor, said she was glad the board brought in an outside auditor to review the OSU budget and said she thinks a new restructuring effort at the university has put it on the right track.
But board member Tim Young Tim Young may refer to:
Some of that money will be paid back when OSU gets its share of Pac-10 football revenues this summer, but that still will leave a projected deficit of $5.3 million. That's the largest athletic department deficit of any of the seven state universities.
Board members had some pointed questions for OSU Athletic Director Athletic director (commonly, "athletics director") is a position at many American colleges and universities, as well as in larger high schools and middle schools, which oversees the work of the coaches and related staff involved in intercollegiate or interscholastic athletic Mitch Barnhart in a subcommittee meeting earlier Friday. They pressed him on whether he's on track to eliminate the deficit and how long that will take. Young said he wasn't entirely pleased with the answers.
"I feel that when students are paying tuition, they're paying for an education, not a winning football team," Young said.
"It's disturbing. What needs to happen is they need to cut expenses."
The board is expected to revisit re·vis·it
tr.v. re·vis·it·ed, re·vis·it·ing, re·vis·its
To visit again.
A second or repeated visit.
re the issue at its April meeting and ask for a more definite timeline for balancing the athletic department budget without support from the university's general fund.
White said the shortfall was due to OSU's effort to improve faculty salaries, make some investments in instructional equipment, fund more scholarships and boost other programs at a time when revenue was falling short of expectations.
He said the university wasted no time addressing the projected shortfall. It has left 120 positions unfilled, canceled plans to upgrade computer wiring, deferred some equipment purchases, laid off some university support staff and cut 6.5 percent from nonacademic budgets.
White said he is proud of the way OSU faculty and administrators responded to the situation and dismayed at implications that the university had actually spent more money than it had. That was never the case, but he said all the publicity did have some benefits.
"I think anytime something gets this level of attention, it makes you focus deeper," he said. "And that's a good thing."