What is it?
The University’s Financial Statements are prepared by Financial Services and audited by the University’s Board of Governors appointed external auditors. The Financial Statements consist of:
- Financial Position (Balance Sheet)
- Operations (Operating or Income Statement)
- Change in Net Assets
- Cash Flows
- Notes to Financial Statements
Why is it important?
The University’s financial statement reporting fiscal year is May 1 to April 30, and the audit takes place during the months of June through August. The draft financial statements are presented to the University’s Board of Governors for approval in September.