FAMU is well on its way to righting the financial and operational control problems that have plagued it in recent years, says a draft report from the Florida Board of Governors task force that was formed to watchdog FAMU finances.

"We believe adequate, reasonable and effective controls have been implemented by the University, which effectively address the vast majority of issues raised by previous operational and financial audits," says the report. "Based upon the comprehensive validation and verification process conducted on the University's Corrective Action Plan, we believe that FAMU has established the foundation to restore financial and operational integrity."

The report was the topic of a task force meeting Wednesday, and is now being revised and finalized so it can be submitted to state lawmakers next week. We'll post the final report when it comes out. In the meantime, click here to see the draft report and here for a related report on the corrective action plan, which FAMU President James Ammons submitted to the task force in July.

FAMU sent out a statement on the report a few minutes ago, leading with comments from task force member Ed Penson: "This work at FAMU is phenomenal in the amount of time and the amount of work," he said. "Last year when this started, it was close to a catastrophe; this has been a tremendous turn around."

- Ron Matus, state education reporter