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Oral Roberts University to employ an additional audit firm
More articles on this topic: Oral Roberts UniversityIn response to allegations that Oral Roberts University money was misspent, regents decided on Friday to strengthen the university’s financial accountability by retaining an additional independent auditing firm.
“While I am confident that these ongoing efforts will confirm that the practices currently in place are complete and appropriate, I and the board of regents are committed to any and all recommendations and considerations made in order to place the university in the highest possible place beyond reproach,” ORU President Richard Roberts said in a written statement released after a two-hour meeting of the board’s executive committee Friday night.
Roberts said he pays for his family’s personal expenses, contrary to allegations in a lawsuit filed Tuesday in Tulsa County District Court.
Three former ORU professors — John Swails, Tim Brooker and Paulita Brooker — filed the lawsuit against ORU, Roberts and three university administrators. The lawsuit includes a summary of a report allegedly developed by Roberts’ sister-in-law Stephanie Cantese that claims the Roberts family used ORU and Oral Roberts Ministries money for personal expenses.
Roberts’ written statement outlines current accountability measures for ORU and Oral Roberts Evangelistic Association finances.
The Roberts family’s expenses related to ORU or the association are charged to those organizations, and the family’s personal expenses are charged to Roberts, the statement says.
“Any expenses, including trips, errands, food, etc., deemed personal are charged back to me and are paid personally by me on a monthly basis,” Roberts said in the statement.
The summary of the report in the lawsuit says ORU provides Roberts with housing and claims ORU also provides 13 Internet/cable connections, wide-screen televisions, hot tubs, a $15,000 stove and more. Other alleged expenses include remodeling of dorm rooms for Roberts’ daughters, $51,206 worth of clothes, phone bills, a soda machine exclusively for the family, meals, a teacher for the Roberts children, airplane trips, vehicle rentals, horses and more, according to the lawsuit.
An “independent audit firm reviews financial transactions and controlling procedures” and produces an annual report, according to Roberts’ statement. Outside auditors also write an annual report on the compensation of administrators and their relatives. The board’s and association trustees’ audit and compliance committee receives the reports.
“Strong controls,” which are externally audited annually, guide ORU’s and the association’s accounting systems.
The statement did not explain the role of the additional outside auditing firm.
Roberts said he currently would not answer questions, at the direction of the ORU board of regents.
“I strongly wish I could answer all your questions right now. . . .,” he said. “There is a time coming when I am willing to answer all questions.”
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