Finding for Recovery of $105,057.10 Issued Against Former Central State University CFO over Late Pension System Payments

Press Release • Ohio Auditor of State

COLUMBUS - A finding for recovery of $105,057.10 was issued Thursday against the former chief financial officer of Central State University, who failed to submit pension system withholdings on time, resulting in penalties and interest.

Curtis Pettis, who also served as vice president of finance and administration, and his insurance company are jointly and severally liable for the finding, which was included in an audit of the university's finances from July 1, 2022, through June 30, 2023.

The full report is available online at ohioauditor.gov/auditsearch/search.aspx.

Central State was placed on fiscal watch by the Ohio Department of Higher Education in October 2024 due to financial challenges.

A subsequent financial accounting report issued by the Auditor of State's Office "identified significant issues within the university's system and processes of financial accounting and reporting" and "serious concerns about the overall financial governance and accountability at the university."

Thursday's audit report included two dozen material weaknesses and deficiencies in addition to the finding for recovery.

Auditors determined the university accrued and paid penalties and interest for delinquent employer contributions and employee payroll withholdings to two state retirement systems, totaling $105,057.10 between 2021 and 2024.

Auditors wrote, "These charges would have been avoided had the employer contributions and payroll withholding submissions been remitted … by the required due dates."

Thursday's audit also noted that the Central State University Foundation did not provide required records during the audit process, even after a subpoena was issued.

###

The Auditor of State's Office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,900 state and local government agencies. Under the direction of Auditor Keith Faber, the office also provides financial services to local governments, investigates and prevents fraud in public agencies, and promotes transparency in government.

Public Affairs
Contact: Marc Kovac
[email protected]