Audit shows every Louisiana Scholarship Program school complies with new accounting regulations
Baton Rouge, LA (August 1, 2014) – The Louisiana Federation for Children, the state’s voice for educational choice, celebrates the results of two independent audits released by Louisiana Department of Education that shows all scholarship schools in the state are compliant with a new accounting law passed during this year’s legislative session.
The new regulations in Senate Bill 460, require all scholarship schools to account for scholarship funds separately from other funds and that scholarship funds can only be utilized for education purposes. One hundred percent of Louisiana Scholarship Program schools were found to be compliant.
“We are pleased that each and every school participating in the Louisiana Scholarship Program was financially compliant and this was reflected in the state’s audit,” said Ann Duplessis, president of the Louisiana Federation for Children. “This educational choice program has successfully given thousands of children the opportunity to receive a quality education tailored to their needs, and this audit shows that the program is not only helping students, but it is operating effectively.”
Audit Fast Facts
- Twenty-four out of 126 scholarship program schools had findings, with only one being significant
- Of the $35 million in program funding, only $52,000 of it was called into question
The independent audit can be viewed here: http://bit.ly/1uPTyNS