Closer Look: Clean State Audit

UNC Charlotte recently received its fiscal year 2018 audited financial report from the Office of the State Auditor. The report showed no findings, and there were no material changes to the university’s exhibits, demonstrating the strength of UNC Charlotte’s financial position and its internal controls.

“The achievement of accurate financial statements and a clean financial audit is our department’s number one priority each fiscal year,” said Tony Georges, assistant controller for financial reporting. “Accomplishing this goal provides the readers of our financial statements with a clear and accurate picture regarding the University’s financial health.”

Among the highlights of the fiscal year 2018 numbers were a 123 percent increase in total assets and a 149 percent increase in capital assets over the last decade.

Georges also made it clear that the annual audit process is a team effort. “A clean financial audit is a reflection of an administrative staff that acts with competence and integrity as they perform their daily financial functions across campus,” he said.

When presenting the results of the audit at a Board of Trustees committee meeting, the assistant state auditor noted that the audit process went smoothly due to the overwhelming commitment by the University’s financial team, and that the quality of the University’s documentation and cooperation is in the top tier of performance across the UNC System.

The University’s full financial statement is available for review on the North Carolina Office of State Auditor’s website.