Dive Brief:

• So far, an efficiency review for the three public universities of Iowa that began in March has cost $1.62 million.
• Deloitte Consulting of New York staff members are charging as much as $450 per hour for the review, which will likely carry a final price tag over $3.3 million.
• The Iowa Board of Regents has not asked for receipts for Deloitte’s $220,273 in expenses to date, which apparently contradicts the board’s policy and policies at the universities, according to The Gazette.

Dive Insight:

The review is being conducted in three phases, and in the first phase, Deloitte identified 17 opportunities that could produce between $30 million and $80 million in savings. Would one of those opportunities be reining in profligate spending on consulting services?

Because the contract between the regents and Deloitte doesn’t require the consultant to submit receipts, receipts aren’t required, according to Warren Jenkins, chief deputy auditor for Iowa. According to the newspaper, board staff members were concerned that the expense totals submitted by Deloitte may have included payments for first-class airline tickets and alcohol. But the firm has assured the board that it is not charging for those items, according to Patrice Sayre, chief business officer for the regents.