University’s finalized 2019 financial statement demonstrates strong financial position and internal controls

UNC Charlotte recently received its fiscal year 2019 audited financial report from the Office of the State Auditor. The report showed no findings and no material changes to the University’s exhibits. These results display the strength of UNC Charlotte’s financial position and its internal controls.

“A clean financial statement audit demonstrates to the UNC Charlotte community and the general public that our administration performs their duties with accuracy, diligence and integrity,” said Tony Georges, assistant controller for financial reporting. “Achieving and maintaining such results is an ongoing, daily effort that involves, to some extent, every administrative member of our campus.”

At the end of fiscal year 2019, the University had $1.9 billion in total assets, a 25% increase in five years, and $1.4 billion in capital assets, a 31% increase in five years.

The University’s success depends on the success of the whole UNC Charlotte community as the University expands and evolves, says Georges. Such growth combined with increasingly complex accounting standards requires the University’s administrative and financial teams to remain astute while processing and recording growing numbers of University transactions. The results of the FY19 audit report illustrate both the strength of those teams and the University itself.

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

Story: Jordan Estabrook