A new government audit of Georgetown’s finances criticized the University for losing or improperly disposing of federally funded equipment.
Two pieces of equipment worth $24,439 could not be found, while seven pieces of equipment originally worth $75,619, were thrown away without following disposal procedures. The equipment was bought using grants from federal organizations, including the Army and the National Science Foundation.
Compiled in March by accountants at PriceWaterhouseCooper, the report—an A-133, which tries to verify whether or not grant money was properly used by recipients—was submitted to the government in early April. Audits are required for institutions that receive federal funding.
This is not the first time the University’s handling of federally funded equipment has been criticized in an A-133 report. Since 2005, yearly audits have found deficiencies in Georgetown’s equipment handling. A 2008 audit described the improper disposal of equipment originally worth $371,846, and the disappearance of computer equipment worth $38,905.
The report also criticized the University for allowing grant programs to develop debit accounts and for mishandling $100 worth of travel expenses.
Despite these problems, the most recent A-133 audit classifies Georgetown as low risk for misuse of grant money, and says Georgetown’s internal procedures will catch serious financial mistakes.