- Associated Press - Tuesday, May 6, 2014

FAYETTEVILLE, N.C. (AP) - A state audit has found that Fayetteville State University was slow to use its federal funding and may have used money reserved for some purposes to cover other costs.

The Fayetteville Observer reports (https://bit.ly/1j7lEgD) the audit was released Monday by state Auditor Beth Wood. The audit also found the university made accounting errors and understated the balance of some accounts and overstated others.

School spokesman Jeff Womble said the issues resulted from turnover in the university’s finance office.

Womble said the associate vice chancellor for business and finance, who prepares the audit statements, left the school to take another job. In addition, the vice chancellor of business and finance retired.

Womble says there were no issues with the school’s three previous audits.

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Information from: The Fayetteville Observer, https://www.fayobserver.com

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