Fresno State Foundation's Financial Controls Audit
Fresno News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Fresno State Foundations Financial Controls Under Scrutiny: A California State University audit uncovers major gaps in the foundations financial processes, including a lack of segregation of duties and infrequent bank reconciliations. The foundation, which manages $315 million in endowments and grants, is implementing changes to address these issues and improve oversight. However, concerns remain about the stagnant board and potential conflicts of interest.
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