UL System Receives Favorable Audit


UL System Receives Favorable Audit - Jan 10, 2003

Bollinger Joins ULS Board, Grambling Presidential Search to Begin in Fall

BATON ROUGE, La.—The University of Louisiana System has received a favorable audit from the state Legislative Auditor’s Office.

This was the first financial audit to combine the UL System office and its eight universities. The UL System Board accepted the audit at its monthly Board meeting today.

In releasing his “unqualified” opinion, the best his office issues, Legislative Auditor Dan Kyle commended the system and university financial staff for their cooperation and coordination with his office.

“For the first time, the UL System combined the financial reports of all its universities into one consolidated report and complied with the change in accounting principles required by GASB 34. It was a particularly challenging feat, and I commend the System, its staff and universities for meeting that challenge,” Kyle said.

The only findings in the report dealt with a lack of disaster recovery procedures at Grambling, Nicholls, and the University of Louisiana at Monroe, as well as financial reporting procedures at Grambling that were cited in its individual audit report in October. Although there were findings, that audit resulted in an unqualified opinion.

“Our goal as a system is to have clean financial audits at every level. In fact, our Chairman Gordon Pugh is establishing an Audit Committee to ensure that it remains a top priority,” UL System President Sally Clausen said.

In other action, Pugh announced he is delaying until the fall the Board’s national search for a new Grambling State University president. He said he wants Grambling to continue to focus on its reaffirmation of accreditation and the university’s second unqualified audit that it hopes to receive in early fall.

“It is important that the university and administrators have absolutely no distraction from this important endeavor,” Pugh said. “I believe this decision is in the best interests of Grambling and the UL System.”

Dr. Neari Warner said she would be honored to continue in the role of acting president until the Board is ready to conduct its search. At that time, she will decide whether she will be a candidate herself.

Also, the Board welcomed its newest member, Donald T. “Boysie” Bollinger of Houma. Bollinger is the Chief Executive Officer and Chairman of the Board of Bollinger Shipyards, Inc., a family-owned marine construction and repair business in Lockport. Bollinger is Chairman of the National D-Day Museum, the Nature Conservancy of Louisiana and the Nicholls State University Foundation. Louisiana Supreme Court Justice John Weimer presided over the oath of office.

The University of Louisiana System includes eight universities: Grambling State University, Louisiana Tech University, McNeese State University, Nicholls State University, Northwestern State University, Southeastern Louisiana University, University of Louisiana at Lafayette and University of Louisiana at Monroe.

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For More Information Contact:
Catherine Heitman
225/342-6950
 
 

FOR MORE INFORMATION

Contact: Cami Geisman
225.219.0270  |  Cami.Geisman@la.gov

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