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COMPREHENSIVE STANDARD CS R2:
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.
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Compliance |
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Partial Compliance |
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Non-Compliance |
Collin County Community College District (CCCCD) provides
financial statements and related documents that include
various measures for determining the institution’s financial
health. These documents accurately and appropriately represent
the total operation of the District. Financial reports are
provided to various users at set times and also as requested
or needed. All cost center managers receive monthly information
showing cost center expenses both for the preceding month
and year-to-date information (References
1, 2, 3). Also included is budget information, allowing
departments to assess current financial position
and plan for the remainder of the year.
On a monthly basis, the Business Office prepares written
financial reports for the CCCCD Board of Trustees. The Vice-President
of Administrative Services and Chief Financial Officer (CFO)
presents these at the Board’s regular monthly meeting (Reference
4). Information contained in these reports includes
an analysis of revenues and expenses in relation to budget
figures, both for the preceding month and also year-to-date.
Detail of expenses is also provided as part of this report.
Annually, the District has an audit performed by external
auditors, in accordance with auditing standards generally
accepted in the United States and the standards applicable
to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States.
The financial statements, accompanying notes, and various
other schedules and statistical information are presented
in the Comprehensive Annual Financial Report (CAFR) (References
5, 6, 7). This annual financial report is sent to various
state agencies, bond rating agencies, and others who require
continuing financial information about the District.
Supporting Documents:
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