ULM clarifies audit report - KNOE 8 News; KNOE-TV; KNOE.com |

ULM clarifies audit report

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MONROE, La. (KNOE 8 News) - ULM officials say a perceived low-mark in connection with a just released state audit, points out an issue the university already knew and resolved.

In an earlier article, we reported the legislative auditor's findings would be released Monday, but to clear up confusion over the findings, ULM President Nick Bruno released the full report today.

Dr. Nick Bruno and even the state's auditor say ULM is in sound financial shape. Bruno says a "D" footnote in connection with the audit does not represent the university's overall financial condition, but only points to a specific incident cited within the report.

"It is honing in on certain comments and items it does not suggest and overall condition," says Bruno.

According to Bruno, the mark is in reference to $58,554 in missing funds reported to the internal auditor in the Department of Recreational Services. The report points out that no background check was conducted on an employee who had a prior theft conviction, as well as unaccounted receipts and not making cash deposits in a timely manner.

"Those comments, you'll see in the findings related to the Recreational Services incident, where funds had actually been misappropriated," says Bruno.

Bruno says when the university learned of the missing funds a thorough in-house investigation was conducted. As a result, those connected to the incident are no longer employees and new preventative measures are in place. Because the findings have to be reported, they showed up in the audit

"When ULM reported the incident to the Legislative Auditor, as we are required to do, the university officials had already resolved the issues," says Bruno, "appropriate action had been taken including corrective steps to assure that the problems located by our internal staff would be corrected."

Bruno says overall he's pleased with the audit, because what needed to be dealt with has already been handled.

View the complete audit at the Legislative Auditor's website.

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