3.10.2 The institution provides financial statements and related documents, including multiple measures for determining financial health as requested by the Commission, which accurately and appropriately represent the total operation of the institution.
JUDGMENT OF COMPLIANCE
Compliance.
NARRATIVE/JUSTIFICATION FOR JUDGMENT OF COMPLIANCE
The University provides financial statements and related documents,
including multiple measures for determining financial health as
requested by the Commission, which accurately and appropriately
represent the total operation of the institution.
The University
prepares financial statements annually that are reviewed by the Vice President
for Finance and Administration. The financial statements are prepared
in
accordance with guidelines set by the Texas A&M University System
and the State of Texas Comptroller’s Office. The Annual Financial
Report (AFR) (Business
Office, Comptroller, Reports, Financial Reports) is included
in the Combined Annual Financial Report for The
Texas A&M University System which is part of the State
of Texas Comprehensive Annual Financial Report (CAFR).
The University’s Annual Financial Report is considered for audit by the State Auditor’s Office each year as part of the State of Texas CAFR. The State Auditor expresses an opinion on the financial statements of the State of Texas but not on the financial statements of the individual component units of the state. The University’s Annual Financial Report (AFR) for the year ended August 31, 2004 will be reviewed by the State Auditor’s Office in conjunction with The Texas A&M University System Internal Auditors. As a result of their actions, the University’s AFR will be produced and available for the Southern Association of Colleges and Schools team during the campus visit.
The State Auditor’s Office has engaged Klynveld, Peat, Marwick and Goedeler (KPMG), LLP, to perform the Federal Portion of the CAFR. There were no material weaknesses or major findings by KPMG on Texas A&M International University’s Schedule of Expenditures of Federal Awards as of August 31, 2002 and August 31, 2003.
SUPPORT DOCUMENTATION