Oct. 21, 2009 – College of DuPage received its Comprehensive Annual Financial Report (CAFR) from its independent auditor, Crowe Horwath LLP, at the Oct. 15, 2009 Board of Trustees meeting. The auditors gave an unqualified or “clean” opinion to the College on its Basic Financial Statements, State Grant Activity Report, the Schedule of Enrollment Data and other Basis upon which Claims are Filed Report, and on its OMB Circular A-133 Report which accounts for compliance with the College’s state and federal grant programs.
The Illinois Community College Board requires colleges to publish a complete set of financial statements by Oct. 15 each year.
“I would like to thank on behalf of the Board the C.O.D. staff for their effort and skill in ensuring such good financial standing for this institution,” Board Chairman Kathy Wessel said.
The audit reflects the College’s strong financial management and solid financial, despite the challenges of the current economy.
“This is an absolutely clean audit,” C.O.D. President Robert L. Breuder said. “There are no material weaknesses, and you are in financially good health, moving into a stronger position. That is the best scenario that you can get today. I would echo what the Chairman said and thank the people who work here for pitching in together and doing what needs to be done during a very difficult time.”
Strong financial performance has been one of the cornerstones of President Breuder’s tenure at College of DuPage. This summer, the College’s Finance Office received a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for exceptional preparation of its comprehensive financial report (CAFR). The College also received a Distinguished Budget Presentation Award from GFOA for the preparation of its budget. College of DuPage is one of only 20 institutions nationwide to receive GFOA awards in both categories.