Central State University Former CFO Faces $105K Finding for Recovery After Late Pension Payments
WILBERFORCE, Ohio — A former Central State University executive is facing a finding for recovery of more than $105,000 after state auditors determined the university paid penalties and interest because required retirement system payments were not submitted on time.
The Ohio Auditor of State’s Office announced Thursday that a $105,057.10 finding for recovery was issued against Curtis Pettis, the university’s former chief financial officer and vice president of finance and administration.
Pettis and his insurance company were listed as jointly and severally liable for the finding, which was included in an audit examining Central State University’s finances from July 1, 2022, through June 30, 2023.
According to auditors, the university incurred penalties and interest related to late employer contributions and employee payroll withholdings owed to two state retirement systems between 2021 and 2024.
Auditors said the costs could have been avoided if the required payments had been submitted by their deadlines.
The finding comes as Central State continues facing financial challenges. The university was placed on fiscal watch by the Ohio Department of Higher Education in October 2024 due to concerns about its financial condition.
A later financial accounting report from the Auditor of State’s Office identified what officials described as significant problems with the university’s financial accounting and reporting systems, along with concerns regarding financial governance and accountability.
The latest audit identified two dozen material weaknesses and deficiencies in addition to the finding for recovery.
Auditors also reported issues involving the Central State University Foundation, stating that required records were not provided during the audit process, even after a subpoena was issued.
The Auditor of State’s Office said the full audit report is available through its public audit database.
Central State University has not publicly responded to the findings as of publication.
