FOR IMMEDIATE RELEASE
CONTACT:
Melissa Utsuki
Executive Director of Communications and External Relations
626-914-8872
mutsuki@citruscollege.edu
Three Citrus College Audits Receive Unmodified Opinions
Glendora, Calif. (Jan. 9, 2020) – The Citrus Community College District has been transparent and thorough in its financial reporting, according to an annual study conducted by an independent business and accounting firm.
During a recent meeting of the district's board of trustees, a representative from Eide Bailly, LLP, presented reports of three Citrus College audits from the 2018-2019 fiscal year. The firm conducted an annual financial and compliance audit of the Citrus Community College District, an audit of the Citrus College Foundation, and a financial and performance audit of the Measure G Proposition 39 Bond Fund.
Each Citrus College audit received an unmodified, or "clean," opinion, which is the highest level of assurance an auditor can provide.
"An unmodified opinion is the best possible outcome. These positive results show that Citrus College takes its fiduciary responsibility very seriously," said Dr. Geraldine M. Perri, superintendent/president of Citrus College. "I am incredibly grateful to the college's faculty and staff, especially those working in our fiscal services department, for their careful stewardship of public funds."
Citrus College is legally required to evaluate internal controls, as well as federal and state compliance, through an annual audit process. Prior to the arrival of the independent auditors, the college spends significant time reconciling financial information, ensuring compliance with program requirements and gathering supporting documents.
Throughout the 2018-2019 fiscal year, representatives from Eide Bailly made several visits to the college during which they evaluated internal controls, reviewed financial information and assessed the college's adherence to regulatory requirements. Based on the results of the audit procedures, no adjustments were made to the financial statements and no significant deficiencies, material weaknesses or instances of noncompliance were noted.
"We are extremely pleased with the results of all three audit reports," said Dr. Patricia A. Rasmussen, president of the Citrus Community College District Board of Trustees. "Citrus College has a history of financial stability and fiscal integrity for which local taxpayers can be proud."
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