For the ninth consecutive year, the Northern Marianas College has received a favorable audit opinion\u2014an unqualified opinion\u2014on its financial statements. The college has also received for the third consecutive time an unqualified auditor\u2019s opinion on its internal control and compliance report.<\/p>\n
\u201cThe other members of the Board of Regents join me in commending the staff for their excellent stewardship of the funds that are managed by the college and for earning a clean bill of fiscal health from our auditors,\u201d said NMC Board of Regents chair Frank Rabauliman.<\/p>\n
An unqualified opinion means that the financial statements present fairly, in all material aspects, the financial position of the Northern Marianas College as of Sept. 30, 2014, and conform with accounting principles generally accepted in the United States of America.<\/p>\n
According NMC chief financial officer Tracy Guerrero, the college\u2019s independently prepared audit identified no material weaknesses, significant deficiencies, or material noncompliance with the college\u2019s financial statements.<\/p>\n
She also reported that for the first time in the college\u2019s history, the internal control and compliance report that was prepared by the auditing firm contained zero findings.<\/p>\n
Guerrero also added the single audit findings identified in last year\u2019s audit have been fully resolved. In addition, all prior questioned costs have been fully resolved.<\/p>\n
\u201cThis year\u2019s financial audit demonstrates the college\u2019s commitment to being efficient and prudent with the resources that are entrusted to us,\u201d said NMC interim president David J. Attao.\u200b<\/p>\n
A copy of NMC\u2019s financial audit, prepared by Burger Comer Magliari (BCM), has been transmitted to the Office of the Public Auditor.<\/p>\n
\u201cWe also commend the leadership of chief financial officer Tracy Guerrero and also the hard working staff at the Finance Department and the Procurement and Property Management Office, as well as other employees at the college, for working diligently to ensure that our finances are well-managed,\u201d said Attao. (PR)<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" For the ninth consecutive year, the Northern Marianas College has received a favorable audit opinion\u2014an…<\/p>\n","protected":false},"author":28,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3940,69,262,2508],"class_list":["post-232195","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-finance-department","tag-nmc","tag-northern-marianas-college","tag-tracy-guerrero"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/232195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=232195"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/232195\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=232195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=232195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=232195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}