The Chronicle News Blog: Audit Shows U. of Central Florida Lent Millions to Athletics Association
A routine review by a state auditor has found that the University of Central Florida may have inappropriately lent its independent intercollegiate-athletics association more than $7.4-million, a practice the university has discontinued, and provided more than $49-million in student fees to the athletics association without proper oversight.
The operational audit, prepared last month by David W. Martin, Florida’s auditor general, took special interest in the lending of public funds to a “direct-support organization” like the athletics association, which is independent of the university. On July 1, 2003, the university’s athletics department became the UCF Athletics Association Inc.
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