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3.10.2 Financial Statements PDF Print E-mail
Thursday, 03 September 2009 13:22

3.10.2    Submission of Financial Statements

The institution provides financial statements and related documents, including multiple measures for determining financial health as requested by the Commission, which accurately and appropriately represent the total operation of the institution.

Responsible Unit: Division of Business and Finance

Compliance Judgment

Compliance.

Narrative

North Carolina Agricultural & Technical State University (NC A&T) provides financial statements and related documents, including multiple measures for determining financial health as requested by the SACS Commission that accurately and appropriately represent the total operation of the institution.

The University prepares annual financial statements in accordance with guidelines promulgated by the Governmental Accounting Standards Board (GASB). These statements, which are audited by the North Carolina Office of the State Auditor (OSA), are comprehensive and attest to the accuracy of the financial data.  NC A&T's audited annual financial reports are posted on the website of the North Carolina Office of the State Auditor (OSA).[1] These reports include the Balance Sheet, a Statement of Net Revenues Expenses and Change in Net Assets, a Statement of Cash Flows, related entity (the University Foundation) financial statements, and footnotes.[2][3][4][5][6]

Annually, the University submits to the Commission the Institutional Profile for General Information and Enrollment Data [7], the Institutional Financial Profile and Indicators Report [8], and the IPEDS Finance Survey [9][10].  These documents have numerous metrics and data to measure the financial health of the organization.

Supporting Documents

[1]      NC State Auditor Website

[2]      NC State Auditor, Audited Financial Statements, Fiscal Year, 2008,

[3]      NC State Auditor, Audited Financial Statements, Fiscal Year, 2007,

[4]      NC State Auditor, Audited Financial Statements, Fiscal Year, 2006,

[5]      NC State Auditor, Audited Financial Statements, Fiscal Year 2005,

[6]       NC State Auditor, Audited Financial Statements, Fiscal Year, 2004,

[7]       Institutional Profile for General Information and Enrollment Data

[8]       Institutional Financial Profile and Indicators Report

[9]       IPEDS, Finance Survey, IPEDS for 2008 Report

[10]     IPEDS, Finance Survey, IPEDS for 2009 Report

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Last Updated ( Friday, 09 October 2009 06:50 )
 

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