Virginia State University received an unqualified audit from the Commonwealth of Virginia’s Auditor of Public Accounts for the fiscal year ended June 30, 2008. This marks the 15^th consecutive unqualified audit for VSU, corresponding with the first audit completed in President Eddie N. Moore, Jr.’s tenure with the university. 

VSU has also established a reserve of nearly $1.5 million from the current fiscal year budget. These funds will serve to mitigate potential cuts in state funding for the fiscal year 2009-10 budget. 

According to VSU Vice President for Administration and Finance David Meadows, the university made some additional end-of-year spending reductions in anticipation of incremental FY 2010 budget reductions in excess of those mandated by the Commonwealth. “The hard decisions we made at the end of this year will serve to benefit us next year,” he said. 

Meadows said the audit report and reserve funds reinforce VSU’s commitment to fiscal discipline that has served as the hallmark of President Moore’s administration.

“We continuously evaluate and improve all areas of audited operations,” Meadows said. “This ensures our responsible stewardship of the funds entrusted to VSU by Virginia’s taxpayers and that we use this money as prudently and judiciously as possible.”