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Where’s the Financial Audit for FY14?
by Silence Dogood

Fiscal year 2014 ended June 30, 2014. It takes some time to reconcile the books for the year and perform an audit. The website for the Office of Finance and Administration contains Annual Reports for several previous years.

For those who have access to SCSU’s Sharepoint website, you can access Annual Reports all the way back to FY 2002.

The MnSCU Audit Committee met on November 18th, 2014 to review and approve the release of 2014 audited financial statements as required by Board Policy.

From the Audit Committee Agenda:

From the agenda, it is clear that the audited financial report for SCSU was scheduled to be taken up by the Audit Committee. From the Audit Committee document, it further states:

The week of November 24th, 2014, the audited financial statement for SCSU (i.e. the Annual Report FY 2014), became available to the public. As of December 19th, 2014, nearly four weeks later, the audited financial statement for SCSU is not available on the website for the Office of Finance and Administration. It has also not been forwarded by the Administration to the SCSU Faculty Association. Hopefully, the Annual Report FY 2014 will appear on the agenda for the Meet and Confer scheduled for January 15th, 2015.

Unfortunately, this is yet just another example of a lack of sharing of information by the SCSU administration. However, after glancing at the audit report, it is quite understandable why they don’t want to have it discussed. Here is the link to the audit report for those that can’t wait for SCSU’s administration to post it:
www.finance.mnscu.edu/accounting/financialstatements/yearendstatements/docs/2014scsu.pdf

It’s a sixty-page document, which is a real page-turner—NOT!

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