July 2, 2004

Money & Management News In Brief

SCRAPING BOTTOM: On a scale of 1 to 5, from best to worst, financial accountability at Albany State University, in Georgia, rates a 5, the state auditor concluded last month. The institution lacks adequate controls on cash flow, accounts receivable, inventories, and capital assets, the auditor said. The Associated Press reported that the university's president, Portia H. Shields, told the regents' audit committee that the problems stemmed from a loss of manpower. In the past year, the

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