Lincoln gets ‘clean’ audit
Monday, November 14, 2011
Just 25 years ago, Lincoln University was fighting for its life, working from a state of financial exigency — the equivalent of bankruptcy in the corporate world.
Last week, LU Curators were told their financial records are in good shape.
So good, in fact, that the BKD auditing firm from Springfield gave Lincoln a “clean” opinion, that its bookkeeping practices and money management are working very well.
“Mathematicians and college presidents both love a clean bill of health from a clean audit,” LU President Carolyn Mahoney said last week, after hearing the auditor’s report.
She acknowledged that auditors often find problems that needs some kind of attention — but Friday’s report to the curators didn’t even have that kind of recommended correction, during a tight-money period.