Wednesday, October 10, 2007
MOHELA Audit to be released
State Auditor Susan Montee conducted an audit of MOHELA. Wonder what she found? Here's an interesting preview from the press release. The release of the audit will be at UMKC (an institution that had $15 million in funding yanked by Blunt from MOHELA due to retribution against Senator Jolie Justus).
PUBLIC INVITED -- THURSDAY, MONTEE WILL RELEASE AUDIT OF MOHELA
(JEFFERSON CITY)—Since the MOHELA was created in 1981, it has generally reinvested its operating surpluses in additional student loans, resulting in the accumulation of a substantial amount of marketable assets. At June 30, 2006, the MOHELA's net assets totaled about $234 million, with operating revenues exceeding operating expenses by over $25 million in fiscal year 2006. During 2007, a law was enacted that will require the MOHELA to distribute $350 million to the state over the next six years, primarily for various capital improvement projects at the state's public colleges and universities. Our audit includes findings on executive severance packages and bonuses, contracts, procurement policies and expenditures.
DATE: Thursday, October 11, 2007
TIME: 2:30 P.M.
SITE: UMKC Fine Arts Building, Room 106 (near building’s east entrance); Parking
immediately northeast of building