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Post by Deleted on Mar 14, 2011 19:57:35 GMT -6
March 14, 2011, 7:57 a.m. CDT The News-Star MONROE, La. (AP) — State auditors have cited the University of Louisiana at Monroe for inaccurate financial reporting. In a report recently released by the Louisiana Legislative Auditor's Office, ULM was cited for failing to accurately maintain some of its accounting records during a two-year period ending in June. The report was part of an audit of the University of Louisiana System's financial records. ULM's Controller Diane Singletary told The News-Star that many of the findings related to accounting classification errors, most of which have already been corrected. State auditors found that ULM did not compile an accurate Annual Fiscal Report, which is required by state law. Auditors also found that the university did not have adequate controls to ensure that its bank reconciliation process was complete and accurate. "A review of ULM's bank reconciliation process revealed that 63 accounts payable and four payroll checks totaling $110,426 had been voided but were still included on the outstanding checklists," the report stated. The auditors also found that ULM requested and received reimbursements totaling $72,149 more than the actual expenses it incurred under the federal Community Development Block Grant program. www.nola.com/newsflash/index.ssf/story/ulm-cited-for-inaccurate-finance-records/abdbabb836a949d88295f459d9d3a0ebNow i know this isn't a laughing matter but these are the same people that criticized Grambling on their financial problems. smh
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Post by gmanwest on Mar 14, 2011 21:25:47 GMT -6
Human beings make mistakes everywhere.......Some schools are just better covering them up than others.
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