[UA] Report from Audit Division on UA Finances

[Matthew J Davis]

[cid:ee869d86-6724-4463-b21f-8b9c46a7f840]

Dear Undergraduates,

I hope all is well.

As you may recall from the summer, in light of the financial deficit, we requested that the MIT Audit Division investigate and explore the events leading to the deficit and why it occurred. In order to bring everyone up to speed as to where we are, and to provide transparency into what occurred, you may find attached the complete, unedited report from the Audit Division.

Moving forward, we are using the recommendations from the report to create various reforms to our financial processes. Alongside this report, we are finalizing a Review Committee into the UA's financial procedures, which will be composed of faculty, staff, undergraduates and graduate students from across MIT. How to become involved in the committee, as well as its charge and composition, will be released soon.

After you read the report, we welcome and encourage your feedback and suggestions about how to move forward. If you have any thoughts or questions, please feel free to fill out this form<https://docs.google.com/forms/d/1owSIVITNS-kSA8KYLpVo2oNxDentkX-KQnS1MWpYbP8/viewform>, or email me. You can also post questions to the UA President tumblr<uapresident.tumblr.com>.

Thank you very much for your time, and I hope you have a wonderful week.

Sincerely,

Matthew Davis
Class of 2016
Massachusetts Institute of Technology
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