FAMU Receives Clean Financial Audit from State Auditor General

Florida A&M University (FAMU) received a clean annual financial audit for the fiscal year ending June 2023.

“The audit signifies a clean bill of health for FAMU. It confirms that our financial statements are presented fairly and in strict adherence to the prescribed financial reporting standards,” said President Larry Robinson, Ph.D. “It is also another indication of the expertise and dedication of our staff and University’s commitment to fiscal responsibility and transparency.”

Florida Statutes requires the Auditor General to annually perform this financial audit.  Per the statute, “Financial audit” means an examination of financial statements to express an opinion on the fairness with which they are presented in conformity with generally accepted accounting principles and an examination to determine whether operations are properly conducted in accordance with legal and regulatory requirements. Financial audits must be conducted in accordance with auditing standards generally accepted in the United States and government auditing standards. 

Issued on March 29, FAMU’s Financial Statement Audit covered the fiscal year ending June 30, 2023.  It did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses.

 

 

Tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards issued by the U.S. Comptroller General.

Senior Vice President of Finance & Administration and Chief Financial Officer Rebecca Brown said she is “exceptionally proud of our ability to maintain fairly represented financial statements with no material weaknesses.”

Brown also extended her “heartfelt thanks to the finance team and everyone involved for their hard work and persistence. In accordance with the University’s “Boldly Striking” Strategic Plan, we will continue to strive for long-term fiscal health and sustainability.”