A Legislative Summary Document Regarding Texas Tech University Page: 4 of 5
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Texas Tech University
SAO Contact: Ron Franke
(512) 936-9500
Key Findings from Previous Audits and Reviews January 1, 2001-December 31, 2002
Ongoing Audit of 10 Agencies' Compliance with Historically Underutilized Business Requirements
The State Auditor's Office will release a report in February 2003 regarding Texas Tech University's compliance with
Historically Underutilized Business requirements.
State of Texas Federal Portion of the Statewide Single Audit Report for the Year Ended August 31, 20011
(February 2002)
Special Tests and Provisions - Disbursements To or On Behalf of Students
Status of Audit Recommendations as of
During the fall semester of 2000, Texas Tech University (Texas Tech) used November 30, 2002
business days to determine when Stafford Loan funds may be requested and KPMG LLP will report on the status of these
distributed. Texas Tech interpreted the regulations to be relevant to business recommendations in the federal portion of
days rather than calendar days. Management recognized the error in the statewide single audit for fiscal year
interpretation and corrected it before the beginning of the spring 2001 2002. This report is expected to be released
semeter.in Spring 2003.
semester.
Performance Management
Performance Indicators Used by Management
Texas Tech University (Texas Tech) has recently gone through an extensive strategic planning process to create a strategic
plan that addresses performance of Texas Tech as a whole unit but that also has strategic plans for each unit and area of
Texas Tech that directly relate to the university's overall performance measures. This effort was intended to make every unit
and department responsible for the achievement of performance goals.
Texas Tech created a Strategic Planning Council that will serve as an oversight and monitoring committee for this effort.
The council will annually review the process-including associated costs and benefits-monitor achievement of measure
targets, investigate measure deviations, and make recommendations if needed. This council will report directly to the
President.
Texas Tech's strategic plan is on the university's Web site. In addition, most of the units' and areas' plans have already been
added to their Web sites. All strategic plans have been completed, although not all of them may be currently accessible on-
line.
Estimating Performance Targets
Texas Tech's methods for determining performance measure targets for the key measures in the General Appropriations Act
appear to be reasonable. Targets are based on historical data (past performance) and peer-institution performance.
Performance was below target in three of nine instances in fiscal year 2000 and in four of nine instances in fiscal year 2001.
1 Results from only the most recent statewide single audit are included in this Legislative Summary Document. KPMG LLP conducted the federal portion of
that audit under contract with the State Auditor's Office. Only excerpts from the KPMG audit report are presented above. For the full text of the KPMG
audit report, please see www.sao.state.tx.us/Reports/report.cfm?report=2002/02-345.
January 2003 SAO No. 03-338
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Texas. Office of the State Auditor. A Legislative Summary Document Regarding Texas Tech University, report, February 2003; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth517731/m1/4/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.