Board receives clean audit, approves search firm contract
The Board of Governors at Missouri Western State University accepted an unmodified, or “clean,” opinion of the University’s financial statements from auditors BKD. There were no findings of material weaknesses or significant deficiencies in the audit.
“The audit is a team effort involving units all across campus,” said Dr. Cale Fessler, vice president for financial planning and administration. “Accounting standards are frequently changing and can be pretty complex, especially for federal programs like financial aid. I’m proud of our team’s hard work to make sure we do things the right way, and gratified to see it pay off with a clean audit opinion.”
“From the board’s perspective, hats off to management for a job well done,” said David Liechti, chair of the Board of Governors.
The audit noted no unusual accounting policies, no disagreements with management and no difficulties encountered during the audit.
Also Thursday, the Board gave final approval to a contract with AGB Search to help conduct the search for Missouri Western’s next president. The search firm will work with the board-appointed search committee to coordinate the search process, including preparing and implementing a transition plan for the new president. AGB will be paid a fee equal to one-third of the new president’s base salary for the first year. Missouri Western’s current president, Dr. Robert Vartabedian, has announced his plans to retire July 1, 2019.
Missouri Western State University is a comprehensive regional university providing a blend of traditional liberal arts and professional degree programs. The university offers student-centered, high quality instruction that focuses on experience-based learning, community service, and state-of-the-art technology. Missouri Western is located in St. Joseph, Mo., and is committed to the educational, economic, cultural and social development of the region it serves. Visit www.missouriwestern.edu.