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NMTI receives clean audit for 2nd straight year
From left, Northern Marianas Trades Institute chief executive officer Agnes M. McPhetres, board chair John Oliver Gonzales, and education director Vic Cepeda pose with the financial audit report prepared by Burger Comer Magliari. (Contributed Photo)
For the second consecutive year, the Northern Marianas Trades Institute has received a favorable audit opinion on its financial statements. An unqualified opinion means that the financial statements present fairly, in all material aspects, the financial position of NMTI as of Sept. 30, 2015, and conform to accounting principles issued for non-profit organizations.
According to NMTI chief executive officer Agnes M. McPhetres, the institute’s independently prepared audit identified no material weaknesses, significant deficiencies, or material noncompliance with the trade school’s financial statements.
“The other members of the NMTI board of directors join me in commending the staff for their excellent stewardship of the funds that are managed by the institute and for earning a clean bill of fiscal health from our auditors,” said chair John Oliver Gonzales. A copy of NMTI’s financial audit, prepared by Burger Comer Magliari (BCM), has been transmitted to the Office of the Public Auditor and policy makers throughout the government.
Since coming on board as CEO in April 2014, McPhetres placed greater emphasis on accountability. McPhetres extensive background in academia was a huge welcome to the school as her ongoing initiative toward accountability is structured around steady growth. She says, “In order for the school to earn stakeholder confidence in the field of education, an organization must ensure funding sources that such an investment lays in great hands.” (PR)
