Texas Tech University engages the Texas State Auditor’s Office to conduct the annual statewide
single audit in accordance with OMB Circular A-133. Texas Tech University has adequate
reporting systems and internal controls to ensure federal awards are managed in compliance with
laws, regulations, and the award terms and conditions. No questioned costs were reported for the
research and development cluster.
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The Financial Portion of the Statewide Single Audit includes an audit of the Schedule of
Expenditures of Federal Awards (SEFA). The Financial Portion of the Statewide Single
Audit for state of Texas for fiscal year ended August 31, 2014, is available in its entirety
at http://www.sao.state.tx.us/reports/main/15-555.pdf.
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The Federal Portion of the Statewide Single Audit includes an audit of compliance and
controls over the state’s federal awards. The Federal Portion of the Statewide Single
Audit report for the state of Texas for fiscal year ended August 31, 2014, is available in
its entirety at http://www.sao.state.tx.us/reports/main/15-313.pdf.
As a result of the audit, additional controls were implemented to further reduce the risk of noncompliance and to ensure complete and accurate reporting.
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Research and development expenditures were overstated on the SEFA by an immaterial
amount. Management will perform additional levels of review to ensure expenses are
reported accurately.
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Federal Funding Accountability and Transparency Act (FFATA) reports were not
consistently submitted in an accurate and timely manner. Management implemented
review procedures to ensure reports are submitted as required.
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Final financial reports were not always reviewed by someone other than the preparer
before submission. Department policy now requires this review and procedures were
implemented to monitor for compliance with the review policy.
For additional questions, please contact:
Simone Barnhill, Managing Director
Office of Research Accounting
(806) 742-2985
simone.barnhill@ttu.edu