To strengthen its oversight of payments made from the CERF trust account, San Josť State should immediately take the following action: perform periodic reviews of the allocation percentages in its funding model policy.
As evidence of compliance, we are submitting the full documentation of the completed 2014 review of the funding model.
The AVP of Finance has added this review function to the tickler file of the Finance calendar - it will be performed periodically every 2 years. The campus is currently undertaking the current round of review of the allocation percentages.
†Response Type refers to the interval in which the auditee is providing the State Auditor with their status in implementing recommendations made in an audit report. Auditees must submit a response regarding their progress in implementing recommendations from our reports at three intervals from the release of the report: 60 days, six months, and one year or subsequent to one year.
*Agency responses received after June 2013 are posted verbatim.