Posted: Jul 2, 2010 4:39 AM by Chris Welty
Updated: Jul 2, 2010 4:39 AM
GRAMBLING, La. (AP) - Grambling State University's new president
has hired the former president of Virginia's largest historically
black university to review "every dime" of GSU's budget.
Frank Pogue tells The News-Star that Marie McDemmond and two
members of her staff also will check the qualifications of
Grambling's accounting staff.
On Monday, a state audit found that during the fiscal year
ending June 30, 2009, the university bought stock with money
supposed to be used for buildings and grounds, and lost $1 million
on the deal.
The purchase was made six months before Pogue arrived on campus
as interim president.
McDemmond was president of Norfolk State University for eight
years, and is credited with strengthening its finances.