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The Dartmouth
May 20, 2024 | Latest Issue
The Dartmouth

IRS audit of the College underway

The Internal Revenue Service is currently auditing the tax returns filed by Dartmouth in fiscal year 1991.

Dartmouth was twice audited by the IRS, once in the 1970s and once in the 1980s, according to Associate Treasurer Win Johnson.

IRS auditor Stephen Reale has traveled to Hanover several times in the past few weeks and may continue his work here through the summer or longer, Johnson said.

"So far, we've had no feedback on anything awry," Johnson said. "We hope we don't get any."

Johnson said he is not aware of any particular area of the College records under special scrutiny.

"At this point, it's a routine audit," he said.

The College hires an external auditor from Boston to examine a general ledger of financial statistics, which includes the tax data now under review by the IRS. The firm, Coopers and Lybrand, issues an annual opinion on the records, which becomes the first page of the College financial statement.

The IRS tax auditing is unrelated to the auditing of several prestigious colleges and universities in 1991 over research costs charged to the government.