Mon June 17, 2013
U of R Responds To Report Of Misappropriated Funds
Officials at the University of Rochester have issued a statement following the release of a memo which indicates a recent audit shows a “significant misappropriation” of university funds within one of the Medical Center departments.
The memo, sent to college officials last week from U of R President Joel Seligman and other university leaders, says that officials believe it was an isolated case.
In a statement released on Monday, the university said that the issue with the misappropriated funds did not involve the improper billing of patients or insurance providers. U of R officials say they have taken significant steps to improve their ability to detect improper financial transactions.
Officials at the university say they reported the problem to the U.S. Attorney’s Office in Rochester last fall, but they say the federal authorities initially asked the university not to disclose the information out of concern it would hamper a criminal investigation.