A Feb. 27 update concerning the ongoing internal audit of the Forever LSU fundraising campaign showed the confusion of an LSU Foundation official about the purpose of the audit, according to the Baton Rouge Business Report. Gen. William Bowdon, president and CEO of the foundation, told the Business Report in a Feb. 22 e-mail that he did not know why the University System Office of Internal Audit was conducting the audit, which has been going on for several weeks. Bowdon was unable to speak with The Daily Reveille because of a family emergency. Scott Madere, public affairs director for the LSU Foundation, said the “audit” of the Forever LSU campaign should instead be called a “review.” He said the LSU Foundation is independently audited three times a year, and there would be no need for an internal audit because the foundation knows where it currently stands concerning its finances and donations. Charles Zewe, LSU System vice president for communication and external affairs, agreed that the audit began as an inquiry or review of campaign financial information. Zewe refused to comment on the extent, outcomes or specific purposes of the ongoing audit because the results from the audit must be released before any further information can be given. He said he does not know the audit’s end date. But Zewe said in a Feb. 6 interview that the purpose of the audit was to determine what exactly has transpired in the campaign’s fundraising. He also said the audit was to make certain there were “accurate numbers” regarding Forever LSU’s financial standing – in response to concerns that former Chancellor Sean O’Keefe may have overstated funds raised for Forever LSU while he was in office. Acting Chancellor William Jenkins said the audit was part of regular procedure. “I’ve not heard any finality about that at all,” Jenkins told The Daily Reveille Wednesday about the audit. Jenkins said the audit is an effort to reach “standardization and appreciation” for the campaign’s current standing. He said it is important in any campaign to determine the exact amounts involved and to recognize exactly how they are presented. “Many see audits as threatening,” Jenkins said. “Frankly, audits are very helpful in most cases.” When the audit is complete, Ray Lamonica, General Counsel for the LSU System, will decide the appropriate measures to be taken. “We’re more than willing to share that audit information with the System,” Madere said of the independent audits of the Forever LSU campaign conducted since 2001. Madere said the Forever LSU campaign, which raises funds for the Tiger Athletic Foundation, the LSU Foundation and the Alumni Association, has raised $423 million in gifts and pledges as of Dec. 31 and the LSU Foundation keeps a running total of the donations acquired.
—-Contact Sarah Lawson at slawson@lsureveille.com