Audit committee: Workday transition delayed reconciliations (material weakness); auditors issue clean opinion and flag federal single‑audit delays External auditors issued unmodified opinions on the systemwide financial statements and revenue fund but reported a material weakness tied to untimely cash reconciliations during Workday implementation. Single‑audit testing for federal student aid remains delayed by the OMB compliance supplement; preliminary federal findings include NSLDS reporting, Tier‑1 IP reporting and one unreported ghost student case.

Despite a successful audit opinion, a material weakness linked to cash reconciliations during the Workday transition raises concerns for Minnesota's financial oversight.

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Legislative subcommittee reviews OLA audit that flags $367M overtime, $37M shift bonuses and agency recordkeeping gaps The Office of Legislative Auditor told a finance subcommittee that Minnesota paid about $367 million in overtime and $37 million in shift bonuses from July 202212/2024, found seven findings across five agencies and identified $6.6 million in DHS shift bonuses paid after a programs expiration; agencies said they accept the findings and will recoup overpayments and strengthen controls.

A recent audit revealed Minnesota's state agencies paid a staggering $367 million in overtime and $37 million in shift bonuses, exposing significant recordkeeping gaps and errors.

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#MN #CitizenPortal #GovernmentTransparency #MinnesotaAudit #PayrollManagement #PublicAccountability

Audit committee outlines 2025 6 work plan, schedules financial-statement sign-off and a December closed session The Audit and Compliance Committee reviewed its 2025 6 work plan, confirmed the annual financial-statement sign-off schedule (Oct. 29) and noted a planned closed session on information security for the December meeting.

The University of Minnesota's Audit Committee has laid out an ambitious 2025-2026 work plan, including crucial discussions on financial statements and information security coming this December.

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#MN #CitizenPortal #InformationSecurity #MinnesotaAudit #FinancialTransparency

Internal audit update: 15% remediation rate flagged; staff leaves may delay up to five FY26 audits Chief Auditor Galswyck told the Audit and Compliance Committee that only 15% of open high-risk audit items were remediated in the most recent period, several items remain open more than two years, and employee leaves could delay parts of the FY26 audit plan.

The University of Minnesota's internal audit reveals a concerning 15% remediation rate on high-risk items, raising alarms about potential delays in the FY26 audit plan due to staff absences.

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#MN #CitizenPortal #EmployeeLeaves #AuditCompliance #MinnesotaAudit #RiskManagement