BATON ROUGE, La. (BRPROUD) — A newly released audit shows that Southern University’s athletics department did not disclose a debt of nearly $400,000.
According to the audit, Louisiana Legislative Auditors said the athletics department misclassified revenue, inaccurate and incorrect Pell grant amounts were found and did not properly disclose noted debt.
“The university’s Statement of Revenues and Expenses showed the athletic department’s total revenues were $18,190,798 in fiscal year 2022 compared to total expenses of $18,585,316, resulting in a deficit of $394,518,” the audit said.
Auditors found that royalties, licensing, advertisements and sponsorship revenues were understated by $58,589 and other operating revenues were overstated by $58,589. Totals were recalculated.
Out of a sample of student-athletes, auditors found that three of 24 had incorrect athletic grant amounts.
“Two students’ grant amount was overstated by a total of $19,872 and one student’s grant amount was understated by $698 for a net error of $19,174. The NCAA Membership Financial Reporting System was corrected,” the audit said.
When looking at Pell Grant recipients, auditors found “one student was excluded who received a Pell Grant of $6,495; two students were included in error causing an overstatement in Pell Grants of $7,067; and two students had incorrect amounts netting to an overstatement of $1,725 in Pell
Grants in the NCAA Membership Financial Reporting System.”