BY ADAM DAIGLE | Acadiana business editor The annual report from the Louisiana legislative auditor’s office on UL’s athletic department included two instances where the university’s statement was understated or misclassified. Duane Bailey, the department’s chief financial officer, said it’s easy to explain why that happened. The audit also showed a deficit of $12,607,582 for the athletic department with total revenues of $33,569,616 and expenses of $46,177,198. You can read Kevin Foote's story here. Have a great day and thanks for reading. | 