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University of Missouri System Board of Curators January 31 – February 1, 2013 Audit Committee

University of Missouri System Board of Curators January 31 – February 1, 2013 Audit Committee. Internal Audit Quarterly Report UM. Summary of Internal Audit Activity Since our September 2012 Report to the Audit Committee. Completed three internal audits

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University of Missouri System Board of Curators January 31 – February 1, 2013 Audit Committee

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  1. University of Missouri System Board of Curators January 31 – February 1, 2013 Audit Committee Internal Audit Quarterly Report UM

  2. Summary of Internal Audit ActivitySince our September 2012 Report to the Audit Committee • Completed threeinternal audits • Planning/performing fieldwork for seven internal audits

  3. InternalAudit Projects CompletedSince our September 2012 Report to the Audit Committee • Office of the Chancellor, Missouri S&T • College of Optometry, UMSL • Patient Satisfaction Survey Assessment, MUHC Note – One page summaries and the full reports have been provided in advance to the Committee.

  4. Office of the Chancellor, Missouri S&T • Background and Scope • On April 2, 2012, Missouri S&T welcomed its 21st leader in 141 years, Dr. Cheryl B. Schrader. • For Fiscal Year 2012, the Office had approximately $1.4 million in revenue and housed three full-time employees in addition to the Chancellor. • The purpose of the audit was to evaluate the efficiency and effectiveness of the Department's processes and internal controls. • Key Highlights • Enhance monitoring controls of financial activity. • Improve compliance with procurement policies.

  5. College of Optometry, UMSL • Background and Scope • The College promotes and provides improved eye and health care by preparing the next generation of optometrists and vision researchers, and operates four eye care facilities known as the Center for Eye Care. • Revenue for Fiscal Year 2012 totaled approximately $7.25 million. • Procedures focused on relevant processes and key internal controls to analyze the efficiency and effectiveness of operations. • Key Highlights • Improve segregation of duties regarding Center for Eye Care accounts receivables and authorization of bad debt write-offs. • Improve internal processes to record and report Center for Eye Care account adjustments and year end accounts receivables. • Implement a periodic reconciliation between financial reporting systems.

  6. Patient Satisfaction Survey Assessment, MUHC • Background and Scope • MUHC has the vision to be the model healthcare provider for exemplary patient- and family-centered care, and obtained a satisfaction ranking of 9 or 10, out of 10, by 76% of patients surveyed for fiscal year 2012. • MUHC created an incentive plan for staff to encourage active participation towards meeting satisfaction goals. • The purpose of the audit was to evaluate processes pertaining to patient satisfaction assessment and the related incentive plan. • Key Highlights • Improve the integration of the initiatives taken across MUHC to improve the patient experience. • Confirm changes to standing data and perform a periodic reconciliation with the survey vendor.

  7. Questions?

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