Texas Southern University Fails to Account for Millions in Spending, State Auditor Reports

Audit Findings on TSU Spending

• ⚠️ Texas Southern University is facing scrutiny for being unable to account for millions of dollars in spending, as detailed in a state auditor's final report.
• 💸 The audit highlights that the university overrode safeguards to make purchases, often buying from vendors without completing required requisitions, which led to budget overruns.

Lost Assets and Financial Reporting Issues

• 📉 TSU has not been conducting annual inventories, resulting in the loss of 50 assets valued at a total of $3.22 million.
• 📊 The university also failed to provide timely and accurate financial data to the state auditor's office.

Official Reactions and University Response

• 🏛️ Lieutenant Governor Dan Patrick has called for a Texas Rangers investigation and vowed to prevent future misuse of taxpayer funds at TSU.
• ✅ In response, Texas Southern University stated it has adopted all of the state auditor's recommendations and has implemented measures to strengthen its financial and business processes, including asset management.