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Comprehensive Standards 3.10.2

The institution provides financial statements and related documents, including multiple measures for determining financial health as requested by the Commission that accurately and appropriately represent the total operation of the institution. (Financial and Physical Resources)

compliance

Summary

Cape Fear Community College (CFCC) complies with this comprehensive standard by providing the required financial statements and documents as required by the North Carolina (NC) Office of the State Auditor, NC Office of the State Controller, and the Southern Association of Colleges and Schools Commission on Colleges. The NC Office of the State Auditor audits the financial statements and activities annually in accordance with the auditing standards generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller of the United States.

Narrative

Cape Fear Community College provides financial statements annually, which are submitted to the North Carolina Office of the State Auditor and the Office of the State Controller (Financial Statement Audit Report, June 30, 2004). These statements are audited by the North Carolina Office of the State Auditor and reviewed by the Office of the State Controller for inclusion in the state-wide Comprehensive Annual Financial Report (North Carolina Comprehensive Annual Financial Report pg 71) and the State’s Single Audit Report, both of which are issued annually (Single Audit Report, June 30, 2004). The audit procedures are conducted in accordance with the auditing standards generally accepted in the United States of America and Government Auditing Standards issued by the Comptroller of the United States.
The College responds to the Commission on Colleges for all information requested (SACS 2004 Financial Profile).

Documentation

Source Location

Financial Statement Audit Report
as of June 30, 2004,

Office of the State Auditor

FIN-2004-6810.pdf

North Carolina Comprehensive
Annual Financial Report (pg 71),

Statewide Accounting Division
Office of the State Controller

2004_Entire_CAFR.pdf

Single Audit Report
as of June 30, 2004,

Office of the State Auditor

FIN-2004-8730.pdf

SACS 2004 Financial Profile,
CFCC Institutional Effectiveness Office

financial_profile04.pdf


 

 

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