George Mason University for the year ended June 30, 2025

Applicable Fiscal Year:

2025

Report Category:

Internal Control and Compliance

Secretariat:

Education

Organization:

George Mason University

Summary

We have audited the basic financial statements of George Mason University (University) as of and for the year ended June 30, 2025, and issued our report thereon, dated September 25, 2026.  Our report, included in the University’s basic financial statements, is available at the Auditor of Public Accounts’ website at www.apa.virginia.gov and at the University’s website at www.gmu.edu.  Our audit found:

 

• • the financial statements are presented fairly, in all material respects;

 

• • one matter involving internal control and its operation requiring management’s attention that also represents an instance of noncompliance with applicable laws and regulations that is required to be reported under Government Auditing Standards; however, we do not consider it to be a material weakness;

 

• • four additional internal control findings requiring management’s attention; however, we do not consider them to be material weaknesses; and

 

• • ongoing corrective action with respect to the prior audit findings and recommendations identified in the Findings Summary included in the Appendix.

 

We did not perform audit work on the prior audit findings titled “Improve Reporting to National Student Loan Data System,” “Promptly Identify Title IV Withdrawals,” and “Properly Complete Federal Verification Prior to Disbursing Title IV Aid,” as noted in the Findings Summary included in the Appendix, because the University did not implement corrective action during our audit period.  We will follow up on these findings during the fiscal year 2026 audit.

 

In the section titled “Internal Control and Compliance Findings and Recommendations,” we have included our assessment of the conditions and causes resulting in the internal control findings identified through our audit as well as recommendations for addressing those findings.  Our assessment does not remove management’s responsibility to perform a thorough assessment of the conditions and causes of the findings and develop and appropriately implement adequate corrective actions to resolve the findings as required by the Department of Accounts in Topic 10205 – Agency Response to APA Audit of the Commonwealth Accounting Policies and Procedures Manual.  Those corrective actions may include additional items beyond our recommendation.