The Louisiana legislative auditor issued Nicholls a clean bill of financial health. The report dated Dec. 20, 2000, showed no audit findings for the fiscal years that ended June 30, 1999 and June 30, 2000.
Controller Michael Naquin said, this means the financial statement that Nicholls prepared fairly presents the financial condition of the University.
Along with no audit findings, Nicholls received and unqualified opinion, which is the best possible rating of a state agency awarded when the Legislative Auditor’s Office agrees after the audit that the financial statements declare the true financial condition of the university.
“This makes the audit report of Nicholls a very good one, considering the size of Nicholls and all the financial transactions that take place on a daily basis.
“This is Nicholls’ second audit in a row where there is not only an unqualified opinion but no audit findings,” Naquin said.
The audit also makes sure that the university has complied with state laws, Naquin said.
Auditors not only look at thing of a financial nature, but also test all of the activities of the university to make sure the university complies with federal guidelines, Naquin said.
Property control is also tested to examine if Nicholls is safeguarding its assets and equipment, said Naquin.
“They [the auditors] check human resources to make sure that our hiring practices are in compliance with federal and state laws.
“The legislative auditors also do a test of internal controls and based on this test they have not found any real weaknesses or anything that would lead them to believe there is a weakness in our controls,” Naquin said.
Naquin said that it is a team effort of everyone on campus that helps bring this audit report together.
“The audit report is an indication that the employees here at Nicholls are truly committed and dedicated in performing the job that is expected of them.
“It is a team effort the university should feel good about,” Naquin said.
The Nicholls audit report is available online at www.lla.state.la.us/fc/nichols0.pdf, the website of the Louisiana Legislative Auditor’s Office.
