The University of Vermont’s auditors say sloppy money management was to blame for fiscal irregularities discovered last spring that led to the resignation of the college’s top financial officer.
Deloitte & Touche LLP accountants found that problems with the university’s implementation of Web-based financial management software stemmed from UVM’s failure to adhere to its own policies.
In April, university officials revealed that Huron Consulting Group had been awarded several contracts exceeding $250,000 without the OK of UVM’s president and board of trustees. That led to the resignation of vice president for finance J. Michael Gower, who’d been in charge of the software implementation.