We have audited the basic financial statements of James Madison University (University) as of and for the year ended June 30, 2025, and issued our report thereon, dated April 8, 2026.  Our report, included in the University’s basic financial statements, is available at the Auditor of Public Accounts’ website at www.apa.virginia.gov and at the University’s website at www.jmu.edu.  Our audit found:

 

• • the financial statements are presented fairly, in all material respects;

 

• • no internal control findings requiring management’s attention;

 

• • no instances of noncompliance or other matters required to be reported under Government Auditing Standards; and

 

• • adequate corrective action with respect to the prior audit finding and recommendation identified as complete in the Findings Summary included in the Appendix.