Southeast Kentucky Community and Technical College Online Compliance Certification
Judgment of Compliance |
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X |
Compliance |
Partial Compliance |
Non-Compliance |
NARRATIVE/JUSTIFICATION FOR JUDGMENT OF COMPLIANCE
Southeast Kentucky Community and Technical College (SKCTC) provides audited financial statements, annual operating budgets, strategic needs analysis, and its annual report to accurately and appropriately represent its total operation.
The audited financial statements illustrate the financial health of the Institution and the multiple measures used to analyze these statements are described in the Kentucky Community and Technical College (KCTCS) 2004-2005 Annual Report with Supplemental information for SKCTC [1]. The annual operating budget provides the College and its constituencies with an annual spending plan [2]. The strategic needs analysis, completed by the President’s Leadership Team—with input from the entire Institution—every two years, describes the priorities of the College that are significant in cost [3]. The annual report—which includes the annual plan for the upcoming year--provides a variety of information related to the operation of the Institution including enrollment summaries, academic program information, and fiscal management data [4].
To further support a healthy financial environment the College and KCTCS adhere to standard acceptable financial practices such as generally accepted accounting principles (GAAP), generally accepted auditing standards (GAAS), standards promulgated by the Governmental Accounting Standards Board, and recommended financial practices of the National Association of College and University Business Officers (NACUBO).
At the unit level, the College provides real-time access to the budgets in order for administrators and supervisors to manage their financial resources [5]. Individuals at the College who have budgetary responsibility are provided the financial policies and procedures to help them manage their budgets. The College’s business office works with these budgetary units to ensure adherences to the College’s financial practices and further supporting the College’s financial health through strong internal controls. Controls that match KCTCS Peoplesoft financial reports against SKCTC posted internal server reports on a daily basis for budget availability and remaining account balances.
In summary, SKCTC provides appropriate documentation supporting its financial heath and accurately representing its operations.
Supporting Documents |
Links to Supporting Documents |
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You must be connected to the World Wide Web to access the following links. (Click on the link to access the document.) |
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1 |
KCTCS 2004-2005 Annual Financial Report with Supplemental Information for SKCTC |
http://www.secc.kctcs.edu/sacs/ |
2 |
SKCTC 2005-2006 Annual Operating Budget |
http://www.secc.kctcs.edu/sacs/ |
3 |
Strategic Needs Analysis |
http://www.secc.kctcs.edu/sacs/ |
4 |
SKCTC Annual Report |
http://www.secc.kctcs.edu/planning/ |
5 |
Budget, Arts and Humanities |
http://www.secc.kctcs.edu/sacs/ |
6 |
Audit 2005 |
http://www.secc.kctcs.edu/sacs/ |
