Maricopa County Community College District / June 30, 2019 / Annual Financial Related Reports
Annual financial and compliance reports: State and federal laws require Arizona community college districts to receive annual financial and compliance audits, resulting in these required reports:
The annual financial report includes the auditors’ opinion on the reported financial information’s reliability. Auditors are also required to report on internal control and compliance over financial reporting, typically included in the single audit report but may be in a separate document.
The single audit report includes the auditors’ opinion on compliance with federal program requirements and on the reliability of the federal expenditure schedule. It also includes the auditors’ report on internal control and compliance over federal program requirements and any findings auditors reported.
Our Highlights summarize these reports.
Expenditure limitation report: State laws also require Arizona community college districts to issue an annual budgeted expenditure limitation report examined by auditors. This report includes the auditors’ opinion on the reported information’s reliability and the district’s chief financial officer’s certification of compliance with the State’s requirements. Once completed, this report will be available here under additional links.