Post by edcrane on Nov 14, 2012 10:56:10 GMT -6
Grambling gets clean audit
www.thenewsstar.com/article/20121114/NEWS/211140317/Grambling-gets-clean-audit?odyssey=tab
After years of negative audit findings, Grambling State University has just been issued a clean bill of financial health.
The Louisiana Legislative Auditor's Office recently released its annual financial report, which evaluated the university's accountability over public funds for the period July 1, 2011, through June 30, 2012.
According to the report, auditors found no significant control deficiencies, noncompliance or errors relating to the office's analytical procedures or other audit procedures.
Additionally, findings identified in previous audits relating to unlocated movable property and tax penalties and interest have been substantially resolved by university management.
GSU President Frank Pogue said the clean audit was the result of hard work from the entire campus community.
"We were just totally excited and pleased about the results of the audit," Pogue said. "We have worked hard as an entire university to achieve this status."
Pogue said one of his top priorities upon taking office at GSU was to restore the financial integrity of the university.
In order to ensure the fulfillment of that goal, Pogue implemented a number of new financial policies, added training for the payroll and disbursements staff and hired qualified staff members to help lead the charge.
Some of the new hires included a director of grants administration, director of general accounting, a payroll manager and a controller who has more than 25 years of experience working for the state Legislative Auditor's Office.
According to the audit findings, those steps have paid off.
Two of the biggest issues plaguing GSU's audit findings in recent years pertained to missing movable property and payroll tax penalties. Both findings, however, were the result of issues that occurred years ago.
Neither finding was brought up in the most recent report.
Pogue said he was proud of the university's accomplishment in restoring its financial integrity and accountability.
"What stands out the most to me is when the auditors told us in our exit interview that this is the first time, in memory, that there will be no public findings announced for Grambling State University," Pogue said. "This was the result of the entire university working together. That's the only way to handle audit findings."
Pogue said the university will work diligently to maintain its financial standing by continuing with the practices and policies that have been put into place.
www.thenewsstar.com/article/20121114/NEWS/211140317/Grambling-gets-clean-audit?odyssey=tab
After years of negative audit findings, Grambling State University has just been issued a clean bill of financial health.
The Louisiana Legislative Auditor's Office recently released its annual financial report, which evaluated the university's accountability over public funds for the period July 1, 2011, through June 30, 2012.
According to the report, auditors found no significant control deficiencies, noncompliance or errors relating to the office's analytical procedures or other audit procedures.
Additionally, findings identified in previous audits relating to unlocated movable property and tax penalties and interest have been substantially resolved by university management.
GSU President Frank Pogue said the clean audit was the result of hard work from the entire campus community.
"We were just totally excited and pleased about the results of the audit," Pogue said. "We have worked hard as an entire university to achieve this status."
Pogue said one of his top priorities upon taking office at GSU was to restore the financial integrity of the university.
In order to ensure the fulfillment of that goal, Pogue implemented a number of new financial policies, added training for the payroll and disbursements staff and hired qualified staff members to help lead the charge.
Some of the new hires included a director of grants administration, director of general accounting, a payroll manager and a controller who has more than 25 years of experience working for the state Legislative Auditor's Office.
According to the audit findings, those steps have paid off.
Two of the biggest issues plaguing GSU's audit findings in recent years pertained to missing movable property and payroll tax penalties. Both findings, however, were the result of issues that occurred years ago.
Neither finding was brought up in the most recent report.
Pogue said he was proud of the university's accomplishment in restoring its financial integrity and accountability.
"What stands out the most to me is when the auditors told us in our exit interview that this is the first time, in memory, that there will be no public findings announced for Grambling State University," Pogue said. "This was the result of the entire university working together. That's the only way to handle audit findings."
Pogue said the university will work diligently to maintain its financial standing by continuing with the practices and policies that have been put into place.