Accounting firm CliftonLarsonAllen recently gave Clatsop Community College a clean bill of financial health on its audit.
CCC gave the CPA firm the thumbs up too, as its board of directors voted unanimously Tuesday night to use the auditing firm for the next two years in review of its 2014-15 and 2015-16 fiscal years.
“We need an auditor comfortable with New Market Tax Credit, something important to us,” said JoAnn Zahn, the vice president of finance and operations.
CliftonLarsonAllen has provided CCC since it was issued the U.S. Treasury’s New Market Tax Credits in September 2008. The college used $2.5 million worth of the tax credits, established by Congress in 2000 to spur new or increased investments in low-income communities, to help with the Jerome Campus Redevelopment Project.
The college’s auditor from CliftonLarsonAllen, Carolyn Wright, reported to its board of directors in early December, giving the college an almost entirely clean bill of health.
“We gave a clean opinion,” said Wright in December, adding that it’s the result agencies hope for in their audits, which must be performed within six months of the end of a each fiscal year running from July 1 to June 30.
The one finding she pointed out related to the National Student Loan Data System. Her firm tested 25 status changes for students receiving federal loans. It found 12 that some didn’t have the correct effective date of status changes, some with incorrect enrollment statuses and some whose status changes were not reported timely.
If the U.S. Department of Education doesn’t see any findings from a school for a few years, said Wright, they wonder whether the auditors are doing their job. But there aren’t many variances from previous years of audits, she added.
The final audit is available on the college’s website at http://bit.ly/1yrxhGH
In other news from the Tuesday meeting:
• The college board voted 6-0-1 to accept the anticipated distribution of United Way funds from the organization’s 2015-16 campaign — board member Esther Moberg, also on the United Way board of directors, abstained. The United Way money goes to support the Lives in Transition support services program, headed by Margaret Frimoth. Frimoth said that while she usually asks for $10,000, she often gets just over $8,000.
• David Oser, a representative from the CCC Foundation, said it will soon authorize distribution of scholarship funds for next year. “The scholarships are really what drives us … to serve on the foundation board,” said Oser, adding that Margaret Chopping, widow of former Astoria Mayor Robert Chopping, set up a $5,000 annual scholarship called the Chopping Scholarship Fund. The scholarship goes to a business graduate from CCC going on to a university program.
• Donna Larson, vice president of academic and student affairs, read a proclamation issued Dec. 16 proclaiming January School Board Recognition Month. President Lawrence Galizio, who was not at the meeting, bought books as presents for each of the board members.