Earlier this week, WBRZ News reported Grambling State University's Athletic Department’s finance audit conducted on February 3 unveiled a few mistakes and a little overspending.
According to a report from the Louisiana Legislative Auditor, there were cases in which the university’s Statement of Revenues and Expenses had to be amended due to the listed amounts being incorrect, exaggerated or distorted.
Additionally, the evaluation disclosed that the athletic department's income exceeded its expenses by $197,196 in fiscal year 2020 – $9,271,838 in overall profits compared to $9,074,642 in total expenses.
The annual auditor's report is based on a set of negotiated policies utilized to study the athletic department's financial reporting focusing on confirming its obedience or disobedience with the National Collegiate Athletic Association's (NCAA) guidelines.
