THIBODAUX – The latest audit from the Louisiana Office of the Legislative Auditor has yielded a positive report for Nicholls State University. Put simply, no news is good news.
The LLA exit conference in December 2007 ended with a University of Louisiana System representative congratulating Dr. Stephen T. Hulbert, university president, on the LLA finding no reportable or non-reportable losses for the fiscal year ending June 30, 2007.
Mike Naquin, controller and assistant vice president for finance, said such an assessment is no small accomplishment, given that the threshold of reportable losses has actually tightened since the last audit.
“It ensures that the funds of Nicholls are being spent in accordance with the manner they are supposed to be spent,” Naquin said. “We are safeguarding university assets, and the biggest benefit is that we don’t have to spend money to replace lost or stolen equipment. We can use the money for more important things.”
Nicholls has a tradition of fiscal responsibility that dates back more than 20 years, Naquin said.
“Prior to 1986, universities were audited every year – but Nicholls’s fiscal policies led to our being one of the first universities to receive two-year audits.”