Division of Business and Finance Comptroller February 17

Division of Business and Finance Comptroller February 17, 2012 North Carolina Agricultural and Technical State University Explore. Discover. Become.

Audits and Reviews Comptroller’s Office Report State Audit The Office of the State Auditor issued on December 20, 2011 their report on the University’s 2010 -11 fiscal year financial statements. The audit results disclosed no deficiencies in internal control over financial reporting that would be considered to be material nor any instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. The “clean” audit is indicative of our staff’s consistent dedication to fiscal integrity and operational efficiency in support of our students and the University’s mission. Audited Financial Statements and Audit Report The University’s 2011 audited financial statements are now available on our Business & Finance website. The complete audit report is herein included as Attachment A. North Carolina Agricultural and Technical State University www. ncat. edu | Explore. Discover. Become. 2

Audits and Reviews Comptroller’s Office Report NCAA Procedures Review The accounting firm of Mc. Gladrey & Pullen, LLP has concluded our NCAA required annual review by an independent accountant of fiscal procedures followed by Division I athletics departments. No exceptions were noted in any of the thirty-three assessment areas. The full Mc. Gladrey & Pullen report can be found at Attachment B. UNC – FIT Monitoring Visits Upcoming The UNC Financial Improvement and Transformation team (UNC-FIT) will be visiting our finance offices this month to review processes and internal controls identified as key control features across the UNC system. The UNC-FIT initiative seeks to reduce audit findings, promote efficiency, and create consistency across the campuses in key financial areas. Treasurer’s Office e-Check Project The Treasurer’s Office is partnering with Wells Fargo to enable e-Checking for students and parents to conveniently pay tuition and fees. e-Check is an online bank draft that can eliminate the need for using a credit card. e-Check has the potential to significantly reduce credit card fees, which exceeded $340, 000 in fiscal year 2011. North Carolina Agricultural and Technical State University www. ncat. edu | Explore. Discover. Become. 3