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Massasoit Community College

August 10, 2016 · Read the full official report (PDF) ↗ · official site ↗

Published August 10, 2016 Audit covers July 1, 2013 – June 30, 2015 Under Suzanne M. Bump · 2011–2023

In plain English
Massasoit Community College generally passed the audit areas reviewed, but it had serious weaknesses in how it tracked, tagged, located, and disposed of college equipment.
source
“MCC did not maintain accurate inventory lists, document annual inventories, consistently use inventory tags, or document a complete and accurate recycling process.”
Read the plain-English breakdown
What is this?

This is a state performance audit of Massasoit Community College covering selected activities from July 1, 2013 through June 30, 2015.

“In accordance with Section 12 of Chapter 11 of the Massachusetts General Laws, the Office of the State Auditor has conducted a performance audit of certain activities of Massasoit Community College (MCC) for the period July 1, 2013 through June 30, 2015.”
Why was it audited?

Auditors looked at whether the college properly tracked equipment, reported losses or thefts, spent administrative money appropriately, and followed campus crime-reporting rules.

“In this performance audit, we examined certain MCC activities related to the inventory of fixed assets, the reporting requirements of Chapter 647 of the Acts of 1989, certain administrative expenditures, and the federal Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act.”
Why it matters

If a public college cannot accurately track its equipment, property paid for with public resources could be lost, stolen, misused, or disposed of without being noticed.

“As a result of these issues, there is a higher-than-acceptable risk of undetected theft or misuse of fixed assets.”
The bottom line

The audit found one main problem: the college did not properly manage its inventory of fixed assets.

“Massasoit Community College did not properly administer its inventory of fixed assets.”
What happens next

The auditor recommended stronger inventory controls, better documentation, clearer procedures for moving assets, employee training, and oversight to make sure assets are tagged.

“MCC should provide adequate oversight to ensure that all fixed assets have current inventory identification tags.”
Why it's significant

The problem was not just paperwork: auditors found sampled assets with wrong locations, wrong tag numbers, or missing tags, and also found older assets with outdated tags.

“Of the 51 fixed assets sampled, 13 items, totaling $40,195, had a combination of the following issues: being found in locations different from those indicated on MCC’s inventory lists, having incorrect inventory identification tag numbers, and having no tags affixed.”
Jargon, unpacked

“Fixed assets” means college-owned equipment or property that should be tracked, such as information technology items and other non-IT items above certain dollar thresholds.

“MCC’s internal control plan requires the inventory of non-IT items with costs greater than or equal to $1,000 and IT items with costs greater than or equal to $500.”

3 figure(s) pending source verification - not shown

What the Auditor checked

What the Auditor found

Massasoit Community College did not properly administer its fixed-asset inventory.
asset/inventory controlrecordkeeping/documentationinternal controls

Why it matters: There is a higher-than-acceptable risk of undetected theft or misuse of fixed assets.

Standard: MCC’s internal control plan required inventory tags, documented corrections and location changes, and written approval before disposal of obsolete or surplus property. ( Massasoit Community College internal control plan; Massasoit Community College internal control plan )

4 recommendations
  • MCC should update its ICP to include documenting the performance of physical inventories, reconciling fixed assets to the recycling company’s final invoice after they are disposed of, and maintaining adequate documentation that supports the recycling process.agency: agreed
  • MCC should develop detailed procedures for asset relocation and should communicate them to all employees.agency: agreed
  • MCC should evaluate its purchasing and inventory processes to identify a best practice for tagging newly purchased fixed assets.agency: agreed
  • MCC should provide adequate oversight to ensure that all fixed assets have current inventory identification tags.agency: agreed
Agency response & Auditor reply
Agency: "Massasoit Community College concurs with the finding of not having accurate inventory lists, documenting annual inventories, lack of consistency with maintaining asset inventory tags and not maintaining evidence of an accurate recycling process."

More audits of this entity

Other Office of the State Auditor reports on Massasoit Community College .

See this entity's page with all 5 audits →