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.

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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.