State Auditor presents CCCC financial audit report
Notice: This article is older than 12 months. Names, contact information, programs, titles, etc. might have changed. If you have any problems please call the main college number, 1-800-682-8353, and we will be happy to direct you accordingly.
click image to enlarge ⊗
North Carolina State Auditor Beth A. Wood (right) visits with Central Carolina Community College Board ... (more)
SANFORD -- North Carolina State Auditor Beth A. Wood, CPA, recently visited with the Central Carolina Community College Board of Trustees' Finance Committee to present the financial statement audit report for the year ending June 30, 2014.
Ms. Wood indicated the results of their tests disclosed no deficiencies in internal controls over financial reporting that they considered to be a material weakness in relation to their audit scope or any instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
Further, Ms. Wood noted the financial statements were presented fairly and in accordance with accounting principles generally accepted in the U.S.
Julian Philpott, chairman of the CCCC Board of Trustees, said Ms. Wood told the board that CCCC had a clean audit -- with no exceptions. "I'm extremely pleased about this audit report," said Philpott. "It's a testament to the hard work and competency of people we have in our business office.
"The CCCC Board of Trustees wants to ensure that every penny we receive is used wisely and for the purposes for which the money was received," said Philpott.
As of June 30, 2014, the college had total assets of $43,730,643.33 and total liabilities of $3,728,128.04.
CCCC received $22,036,498.60 in state funding for operations and $1,287,161.63 in state funding for equipment purchases during the 2014 fiscal year. $4,518,775.20 in net student tuition and fees was also collected during the fiscal year ending June 30, 2014.
The college received $9,289,320.35 in student financial aid for students during the 2014 fiscal year.
Ms. Wood thanked the college staff for their assistance during the audit and complimented the staff on its work.
The committee asked Ms. Wood if there were any items that the college should look to improve or that would assist her team in the future. She indicated the college staff was doing an excellent job of preparing the financial statements and providing timely information to her office. Ms. Wood, who did not request any improvements in the process, thanked the committee for wanting to ensure the finances of the college were well managed.
Phillip Price, CCCC Vice President of Administrative Services, said the college is blessed to have such a well-qualified administrative services staff. "The individuals in the business office are true professionals," said Price.
For more information on Central Carolina Community College, visit www.cccc.edu.
- Admin, Faculty & Staff Category
- Arts & Entertainment Category
- Clubs Category
- College & Community Category
- College General Category
- Continuing Education Category
- Curriculum Programs Category
- Distance Education Programs Category
- Facilities/Buildings Category
- Finances Category
- Foundation Category
- Graduations Category
- Lee Early College Category
- NCCCS Category
- SGA Category
- Special Events Category
- Sports Category
- Students/Graduates Category
- Uncategorized Category
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017