A state audit found "grossly inaccurate" information going back years in a study of the financials of North Carolina Central University. The university has since made changes, especially in personnel training, to improve financial reporting.
State Auditor Dave Boliek told the governor and NCCU Board of Trustees his office found more than $45 million in total financial reporting errors for the fiscal year that ended June 30, 2024, in a review of NCCU's financial statements.
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"NCCU’s financial reporting was grossly inaccurate, and as a result there is substantial risk created for the University," Boliek wrote.
The audit found that problems with financial reporting "have snowballed over the last several years and through multiple audits, culminating in 2023-2024.
"The good news," Boliek wrote, "is that since these shortcomings, new leadership has taken the helm at the University."
In response to two pages worth of specific findings and recommendations, NCCU chancellor Karrie G. Dixon -- who took over the role in June 2024 -- and CFO Laurie Wilcox -- new in February 2025 -- assured Boliek that they've made changes to evaluate and improve the training of anyone involved with financial reporting.
He was satisfied.
"Our team is confident in the new leadership team’s ability to put the University on a positive trajectory," he wrote to Dixon, the trustees and lawmakers.