The Washington State Auditor (SAO) engaged Sjoberg Evashenk Consulting, Inc. to conduct an audit of two major State accounts—Higher Education Dedicated Local Account (148 Account) and the Operating Fee Account (149 Account). This audit focused on the University of Washington and its three campuses—Seattle, Tacoma, and Bothell, with the purpose of gaining insight into the use of the funds in these accounts—particularly ensuring that funds collected for tuition and other fees are used as intended and that State funds are spent appropriately. we found that different financial statement reporting models as a factor creating a lack of clarity and transparency in understanding the University’s accounting.
The full report can be found here.
