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04/16/2015

Legislative Audit Council Will Not Review Winthrop University

Quick Facts

 The Legislative Audit Council met today and decided not to move forward with an audit at this time, concluding that the request did not warrant its staff’s resources.
 The university will focus on Winthrop’s excellent reputation by continuing to provide our students with a learning and living experience that is second to none.

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Debra Boyd

A message from Acting President Debra Boyd to the Winthrop community:

Dear Colleagues:

I would like to provide you with an update on the request to the Legislative Audit Council (LAC) for an audit of Winthrop University.

As you will recall, Representative John King and six legislators from outside of York County requested an audit of Winthrop’s financial position.

It is our understanding that the LAC met this afternoon and decided not to move forward with an audit at this time, concluding that the request did not warrant its staff’s resources.

As I mentioned in my previous message, the stability over the last several years of Winthrop’s “reserve” or our unrestricted net position (previously called a “fund balance”) speaks to the integrity of our finances. Of course, we have faced challenges in recent years: we have had to address the growing impact of permanent reductions in state funding as a result of the recession that began in 2008, which occurred at the same time that higher education was becoming more competitive than ever.

We are making up the difference with combination of spending cuts, program reductions, and tuition revenue. To be clear, we cannot rely on large tuition increases; families and public officials alike have strongly urged universities to keep tuition increases to a minimum. Last year, we responded with a tuition increase that was the lowest in 14 years. Instead, Winthrop is working to increase tuition revenue by building enrollment through student recruitment and retention.

I appreciate Rep. King’s interest in securing a bright future for Winthrop. We stand ready to work with him and our legislators in the York County delegation, as well as local public officials, community leaders, and our own faculty and staff on Winthrop’s behalf.

I know the possibility of a legislative audit has been a distraction for some of you. We can now put those concerns behind us and focus on bolstering Winthrop’s excellent reputation by continuing to provide our students with a learning and living experience that is second to none.

Sincerely,
Debra


Debra C. Boyd, PhD
Acting President
Provost


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