February 4, 2005
INFORMATION: John McElwain or John Green, (661) 362-3494 or 3684
Audit Gives College District a Clean Bill of Health
SANTA CLARITA -- The Santa Clarita Community College District received a clean fiscal bill of health during its annual audit, which determined there were no findings representing reportable conditions, material weaknesses and/or instances of noncompliance related to the financial statements. The same report was made with regard to federal and state awards.
The audit, approved by the districts Board of Trustees at its Jan. 19 meeting, serves as outside verification of the districts commitment to sound risk-management practices as well as its ability to plan ahead and deal with the states unstable funding mechanism and anticipate existing and future liabilities. Doing so enables the district to respond successfully to opportunities and challenges presented by the college and communitys growth, and commit to expand access to students and businesses in the Santa Clarita Valley.
The lack of findings contained in this audit report reinforces the districts consistent practice of complying with general accounting standards, anticipating new requirements and maintaining adequate internal budget controls, Superintendent-President Dr. Dianne G. Van Hook said. As a result, we have been able to safeguard the assets of the district. Our fiscal stability and planning enable us to work with community partners in a forward-thinking manner to anticipate and prepare for future demands in our local economy.
Were very pleased with the results of the audit, said Board of Trustees President Joan MacGregor. The trustees and the administration have worked very hard to be good stewards of the taxpayers money.
While not unheard of, it is unusual for an organization to come through an audit without a single finding, said Sharlene Coleal, vice president for business services at College of the Canyons. The credit for this really belongs to the staff of the Business Services Department, and is evidence of their expertise, dedication and pride in their work.
The accounting firm Vavrinek, Trine, Day & Co. prepared the audit, which covered the fiscal year ending June 30, 2004.