KEYSER, W.Va. — A legislative audit of Potomac State College released on May 20 found issues with internal controls on inventory and on payment card security, according to the Charleston Gazette. The audit also found 28 items with an original cost of more than $350,0000 that lacked inventory tags, much of which was farm equipment, according to Harlan Shreve, business office director for PSC.
“Everything is being taken care of or has been taken care at this point,” said Shreve, who noted that the issues that the audit found were minor.
Property that is purchased for $5,000 or more must have inventory tags, according to state law.
A $15,000 forage harvester that lacked an inventory tag had been transferred to the Davis Farm at West Virginia University but no transfer documents had been filed, according to the Gazette.
Also, the audit found that a horse trailer with a purchase price of $21,000 had an incorrect inventory tag, according to the Gazette.
An ATV, bleachers, heat pumps and a movie screen were found untagged at the college.
The tags on some of the items have worn off due to weather conditions, according to Shreve. About 10 to 15 items are spot checked annually every year but not every item is checked, said Shreve.
“We will do a full reconciliation during the summer,” said Shreve noting that someone from WVU would be coming in to provide a better tagging system.
There were also issues with payment card security at the college. Auditors found 213 credit card authorizations forms for payment cards in an unsecured area, according to the Gazette.
“The entire card number, security code and expiration date remained fully visible,” the audit stated.
The college keeps the forms locked in a vault and has since changed the lock and reduced the number of employees who have access to it, according to Shreve.
“No money was found missing and no items were missing. I consider it to be a good outcome for a legislative audit,” said Shreve, who noted the last legislative audit was done 23 years ago.
There haven’t been any complaints about issues with payment cards, according to Shreve. A shredding company is coming this summer to shred and dispose of all the old authorization forms for payment cards that are currently locked in a secure location.