AUSTIN, Texas (AP) - An internal audit has revealed that a single department at the University of Texas has run a deficit of $15 million and officials say the number could grow to $25 million.
A copy of the audit obtained by the Austin American-Statesman shows UT’s Information Technology Services department ran the $15 million deficit by the end of August.
The audit attributed part of the problem to “financial mistakes and miscommunication by various parties.”
The department provides software support, computer security and other services.
Officials say roots of the problem go back a few years to a newly created Central Business Office that took over some financial responsibilities as part of a consolidation of services.
The office apparently made budget decisions without informing IT managers, resulting in IT spending money it was never allocated.
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Information from: Austin American-Statesman, https://www.statesman.com
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