Thank you State Auditor Mike Harmon

Bruce Schreiner | AP News

FRANKFORT, Ky. (AP) — An audit of Kentucky State University’s finances revealed a “chaotic accounting environment” that lead to undocumented credit card transactions, extravagant bonuses and a lack of controls that put millions of dollars in federal grant funding at risk, the state auditor’s office said Wednesday.

The examination was referred to federal and state prosecutors after identifying 20 “significant issues,” Auditor Mike Harmon’s office said.

The special examination to drill down into the finances at the historically Black university was ordered by Kentucky lawmakers last year. It primarily focused on KSU’s financial and internal policies between July 1, 2018, and June 30, 2021.

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