Press Release  Bump Recommends Steps to Address Weaknesses in North Shore Community College's Inventory Processes

Boston — Auditor Suzanne M. Bump today released an audit which recommends that North Shore Community College (NSCC) take steps to improve its inventory and loss reporting processes. Recommendations include establishing inventory processes, and conducting periodic reviews of physical inventories.

“Our audits have repeatedly shown that college and universities, often due to their open campuses, are at greater risk for loss and theft of property. North Shore Community College was no exception,” Bump said of the audit. “I’m pleased that the school has taken steps to implement our recommendations to address the weaknesses we identified, and I commend them for meeting their responsibilities related to trust fund expenditures, campus security, and academic counseling.”

The audit found that NSCC did not conduct a complete annual physical inventory of all of its fixed assets, nor maintain an accurate inventory list. In addition, it found that the school did not follow its procedures for relocating assets, or properly report missing assets. These deficiencies mean the school’s fixed assets are at greater risk of loss, theft, or misuse.

The school indicated that it is taking steps to address the identified weaknesses.

Additionally, the audit found that NSCC was making trust fund expenditures in accordance with its stated purpose, was complying with campus security reporting requirements, and was providing academic counseling to meet the needs of students.

Earlier this year, Bump released audits of the Massachusetts Maritime Academy, Massachusetts Bay Community College, Middlesex Community College, Framingham State University, Cape Cod Community College, and the Massachusetts College of Liberal Arts, all of which found similar problems with physical inventory control, and made similar recommendations to address the problems.

NSCC, which has a main campus located in Danvers and satellite sites in Lynn and Middleton, is a member of the Massachusetts public higher-education system. As of fall 2015, it had 10,451 students enrolled.

The North Shore Community College is available here.

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