4- Wednesday August 9, 1995 - North Shore News

‘Stronger’ in
wake of fiscal

investigation
CAPILANO COLLEGE'S
chairman of the board said the
school has dealt with allega-
lions investigated in a recent
audit and the negative experi-
ence is now behind them.

By Anna Marie D'Angelo
_ News Reporter

“In the long run, we are better off

and stronger and we shouldn’t have
to look.,at things like. this. again,”
Robin Wilson said recently.
_ Am anonymous tpster reported a
number of allegations involving
misuse. of college money and
resources in May 1994 to the.
Ministry of Skills, Training and ~
Labor i in Victoria.

“The ministry conducted an audit,
completed: in January. which con-
cluded that some allegations were
_“substantially correct.”

’ Since then, Wilson said “sub-

7 stantial” time has been spent on col-
lege policies,

. Among the audit findings:

a money was loaned to employees
in financial distress:

@ one singing telegram was pur-
chased with college funds and the
college paid expenses “which may
not be appropriate for provincial
funded agencies,” including the pur-
chases of get-well gifts along with

- food and drinks (including liquor)
for: Christmas and retirement staff .
parties.

Among the actions taken by the,

- college: >...
8a policy that."the college will.
make no financial loans of any kind
to any of its emnployees;” -

: 8 allowable expenses for college-
initiated meetings are more clearly
detined and “moderation and cir-
cumspection shall"be guiding prin-

ciples when it comes to the purchase -

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on a Price Waterhouse report on the
college’s management practices.
The Vancouver management
consultant firm noted that the
Purcell Way college has always miet
its budget. The report states, “This

_is a goal that is not achieved by all

the colleges in the provinces.”
Wilson said Capilano College
has never had a deficit. Said Wilson,
“ht (Capilano College) is a very
well-managed college.”
Price Waterhouse took a shot: at
media reports of the college con-

cerning relatively small amounts of

money which “may not be material
in financial terms" such as salaries,
termination payments, expense
accounts, travel and waived fees.

The report states“... there is the
risk that if they are publicly dis-
closed, there may be an unaccept-
able level of public concer that will
in tum cause people to lose confi-
dence in the college.

* “This issue is not restricted to the ©

public sector; media coverage of
companies’ annual financial state-
ments often focuses on the earnings

of senior people...”

{In addition to the management
consultant report, the ~ college
received a legal opinion conceming
a computer-purchase program and
its tax implications. The college was
advised to establish policies to com-

ply with Revenue Canada regula-—

tions.

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