An Audit Report on Cash Controls at the University of North Texas
August 2004
Report Number 04-049
Overall Conclusion
Overall, the University of North Texas (University) has adequate controls over the receipt, safeguarding, and disbursement of cash. Furthermore, the University's controls over tuition, fee and housing revenues, employee reimbursements, and deposits are adequate to ensure that transactions are accurately and completely recorded in accordance with state laws and regulations and University of North Texas System policies.
However, we found that the University's Athletic Department (Department) has several weaknesses in controls over the printing of and accounting for ticket sales that make the Department vulnerable to losses in revenues that it may not be able to detect.
We also found that the University has not yet adequately implemented security for its new financial accounting system, EIS FS, which it implemented in September 2003. There were weaknesses in EIS FS access controls, including inadequate standards for passwords and for user IDs and excessive privileges granted to users. These weaknesses could be exploited by an unauthorized user to create, modify, or delete financial data. However, we determined that the servers that house EIS FS were generally secure from internal and external threats such as those posed by hackers.
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