Report shows systemic problems at Kentucky State University
FRANKFORT, Ky. (AP) — The state auditor’s office says an examination of Kentucky State University’s finances revealed a “chaotic accounting environment.” Auditor Mike Harmon’s office says it led to undocumented credit card transactions, extravagant bonuses, and a lack of controls that put millions in federal grant funding at risk. The findings were released Wednesday. The auditor’s report contains 20 findings identified as “significant issues.” Harmon’s office referred its findings to federal and state prosecutors. Kentucky lawmakers last year ordered the examination to drill down into the finances at the historically Black university. The examination primarily focused on KSU’s financial and internal policies between mid-2018 and mid-2021.