SC restricts Winthrop spending after audit finding
Sun, 10 Feb 2013 19:57:01 GMT —
ROCK HILL, S.C. (AP) -- South Carolina officials are restricting some of Winthrop University's spending authority after a financial audit revealed concerns.
The Herald of Rock Hill reports the issues include the public university spending $4.5 million on a computing system without competitive bids and the university's management of an apartment complex for the past decade.
Winthrop spokeswoman Rebecca Masters says the university is unhappy about the criticism of the apartment complex built by a related non-profit foundation on donated land.
Spending audits are performed every three years on public colleges, and this one covered 2007 to 2010. The school's ability to make spending decisions will be limited and get more oversight from state officials unless the university wins an appeal.