Investigation into N.J. higher ed waste

February 25, 2008 8:05:26 AM PST
A top state investigator says wasteful spending is rampant at New Jersey's public colleges and universities.

Cary Edwards, chairman of the State Commission of Investigation, tells an Assembly committee on Monday that an inquiry showed lax financial oversight and paltry accounting standards at state colleges.

He says no one quite understands what's going on at those institutions, hurting taxpayers and tuition-paying students and parents.

Edwards is a former attorney genera. He recommends the state strengthens oversight and sets standards for spending money at its 31 public colleges.