October 5, 2010

Grambling State President Receives Financial Report

GRAMBLING, LA—Grambling State University President Dr. Frank G. Pogue recently received a comprehensive financial status report from McDemmond and Associates, a Pompano Beach, Fla.-based consulting firm.

Pogue requested the review following his appointment as president of Grambling State University. The GSU leader said, “This review is something that anyone taking over as president should do to ensure the financial stability of an institution they are charged with overseeing. I am very pleased with the information and analysis we have received and have already enacted several of the recommendations”.

The consulting firm was selected based on the professional expertise of Dr. Marie McDemmond, who serves as principal in the firm. Dr. McDemmond is President Emeritus of Norfolk State University where she served as president from 1997 to 2006. She also served as Vice President for Finance, CFO and Chief Operating Officer of Florida Atlantic University from 1988 to 1997.

McDemmond said, “It is my pleasure to work under the strong leadership of Dr. Pogue in reviewing the university’s financial position and to serve as a financial consultant to the university. The review process and the report are critical tools for the president as he assumes his new role. The report is a great resource for critical decision-making during these times of drastic budget cuts and will assist Dr. Pogue in establishing short and long-term goals for the financial stability and viability of the university.”

Interim Vice President of Finance and Administration Leon Sanders said, “The report is very timely as the university has identified several opportunities that will improve the way the university operates.”

Sanders went on to note that the university has improved staffing capacity by hiring a payroll manger and an assistant comptroller for grants and administration. The university has also finalized negotiations with a new comptroller, who is a Certified Public Accountant (CPA) with over 30 years of experience in LA state agencies and higher education. The university recently contracted the Green Accounting firm to assist with year-end closing and the preparation of an annual financial report.

During the upcoming fiscal year, the university will continue to hire critical staff and make necessary organizational improvements. “It is important to note that policy evaluation, development and implementation are time intensive tasks and many of the necessary changes will take time,” said Sanders.

The university is working with the legislative auditor and the UL System to ensure that the university is operating in compliance with state regulations. “The university has carefully reviewed all of the issues identified by the legislative auditor and has implemented strategies to ensure the financial integrity of the university,” Sanders said.

McDemmond affirms that the services of her firm will be available to the university for as long as deemed necessary by the president.

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Director of Public Relations
Grambling State University
GSU Box 4268
100 Robinson Street
Grambling, LA 71245
(318) 274-2560 Office

 

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