Also from the Louisiana Legislative Auditor:
In addition, the university misclassified $6,667,000 in severance payments as coaching salaries, benefits, and bonuses on its Statement of Revenues and Expenses. Auditors found as well that the university omitted $139,895,732 in debt on its NCAA Financial Report. The university’s Statement of Revenues and Expenses showed the athletic department’s revenues exceeded its expenses by $1,943,722 in fiscal year 2022 – $199,309,382 in total revenues compared to $197,365,660 in total expenses. The football program generated $95,104,156 in revenue and, after expenses of $59,384,456, netted $35,719,700, which was an increase of slightly more than $29 million from fiscal year 2021.
Them PWI folks are gone to fixed this stuff though, watch and see. I've seen there grandparents, children and grandchildren do it before, and I have confidence the new generation of them will do the same. Southern and Grambling expect to take a further cut in your funding because them folks have to make up for that malfeasance, misapplication, misappropriation and fiduciary neglect.
Not to worry though, our HBCUs know the game all too well. Something bad will happen on our campus that could been handled in a more timely manner if better funding were available, and when it does the same white supremacist, delusional PWI black graduates and self-hating crowd will show up right on cue to repeat their familiar refrains about HBCUs mismanaging money while ignoring the historical and present day fact that HBCUs are still having to contend with the same adversarial forces now as they have in the past.
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