COD Earns Clean, Unqualified FY 2013 Audit
By Robyn Johnson
External auditing company Crowe Horwath LLP provided College of DuPage with an unqualified, "clean" FY 2013 annual financial audit at the College's Board of Trustees meeting on Thursday, Oct. 17.
"We are providing College of DuPage with an unqualified, clean opinion," said Christine Torres, Crowe Horwath Senior Manager. "All numbers are materially correct and there are no deficiencies in the College's financial statements. We stand by this audit completely."
Listed in the report are total revenues of $250,287,939, total expenditures of $218,514,720 and an increase in net assets of $31,773,219. Total assets are $869,395,163, with total liabilities of $408,541,261 and unrestricted net assets (equity) of $147,895,808. The College's total unrestricted fund balance is $97,146,190, which represents 54.82 percent of the general operating funds revenue.
"Our fiscal strength remains the envy of other colleges and universities," said COD President Dr. Robert L. Breuder. "We operate in the same manner our taxpayers would run their own homes. We do not spend more than we take in, we set aside savings for unexpected emergencies and opportunities, and we have shown resourcefulness and commitment to meeting state funding challenges head-on."
Click here to review the College's Comprehensive Annual Financial Report and additional financial
2012 College of DuPage