Annual Independent Report Highlight’s University’s Growing Fiscal Position
GRAMBLING, LA – April 2, 2019 – Today, Grambling State University announced that the institution’s 2018 annual audit was completed with no findings on the heels of its improved fiscal health score.
“We continue to prioritize accountability and accuracy throughout our University,” said President Rick Gallot. “Our successful audits are evidence of the constant hard work and collaboration between our finance division and leaders across our campus.”
As a part of the University of Louisiana System (ULS), Grambling State University is required to provide financial information to the office of Louisiana’s Legislative Auditor (LLA). The annual review examines the effectiveness of the University’s internal controls, financial reporting, and its compliance with applicable laws and regulations.
The University’s most recent audit, completed in December of 2018, examined activity during the fiscal year that ended June 30, 2018. For this period, the report determined that Grambling State has sound internal controls and is in compliance with all laws and regulations.
“We appreciate the work of our audit team and those who collaborate across the state to invest in our accountability,” said Martin Lemelle, Chief Operating Officer and Vice President for Finance and Administration. “Each audit is an opportunity to examine and improve our processes while we grow our fiscal health.”
Grambling State University’s most recent audit examined the period in which the University and its Finance division accomplished
- a 100 percent increase in its fiscal health score,
- acknowledgement from the Louisiana Board of Regents for its progress, and
- a three-year high of University revenue.
“Our accomplishments in growing accountability are key as our student body and academic programs expand,” said Lemelle. “These proof points demonstrate that Grambling continues to be a worthwhile investment for our students and partners.”
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