AUDIT SUMMARY

 

We audited the Student Financial Assistance Cluster of federal programs administered by Mountain Empire Community College (Mountain Empire) for the year ended June 30, 2024.  We found:

 

• proper recording and reporting of all transactions, in all significant respects, in Mountain Empire’s accounting and financial reporting system and U.S. Department of Education’s federal student financial assistance systems and the federal attachment submitted to the Department of Accounts (Accounts); and 

 

• five matters involving internal control and its operation necessary to bring to management’s attention that also represent instances of noncompliance with applicable laws and regulations or other matters that are required to be reported. 

 

In the section titled “Audit Findings and Recommendations,” we have included our assessment of the conditions and causes resulting in the internal control and compliance findings identified through our audit as well as recommendations for addressing those findings.  Our assessment does not remove management’s responsibility to perform a thorough assessment of the conditions and causes of the findings and develop and appropriately implement adequate corrective actions to resolve the findings, as required by Accounts in Topic 10205 – Agency Response to APA Audit of the Commonwealth Accounting Policies and Procedures Manual.  Those corrective actions may include additional items beyond our recommendations.