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The College\u2019s financial statements and accounting records shall be audited a minimum of once every two years or, if additional audits are necessary, as required by the State Board. \u00a0The College may use state funds to contract with the North Carolina State Auditor or with a certified public accountant to perform the audit. \u00a0The College shall submit the results of the audit to the State Board. \u00a0The audit provides assurances that departments are complying with internal and external policies, procedures and regulations as well as verifying that financial statements and required reporting is completed in a timely and accurate manner.<\/p>\n
Additionally, all state fund reports are submitted monthly to the North Carolina Community College System\u2019s finance office. \u00a0These reports are reviewed and reconciled prior to the release of state funds for the subsequent months.<\/p>\n
Nothing herein would prohibit the President, if deemed necessary, from requesting a special audit of the College\u2019s accounting records by an outside agency.\u00a0 The President is also authorized, as needed, to develop procedures regarding internal controls to ensure that there are adequate controls in place to promote efficiency and protect the College\u2019s assets.\u00a0<\/p>\n
Adopted: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 February 2022<\/strong><\/p>\n <\/p>\n Legal Reference:\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 N.C.G.S. \u00a7 115D-58.16<\/p>\n Revised\/Updated:<\/p>\n <\/p>\n[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":" The College\u2019s financial statements and accounting records shall be audited a minimum of once every two years or, if additional audits are necessary, as required by the State Board. \u00a0The College may use state funds to contract with the North Carolina State Auditor or with a certified public accountant to perform […]<\/p>\n","protected":false},"author":29,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"footnotes":""},"class_list":["post-24606","page","type-page","status-publish","hentry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t