University receives finalized 2017 financial statement from state auditor

UNC Charlotte recently received its 2017 audited financial report from the Office of the State Auditor. The report again showed no findings related to what University officials reported, which indicates the strength of UNC Charlotte’s financial position and its internal controls.

“Having a clean audit with no findings helps the University achieve higher ratings from the bond rating agencies, which in turn allows the University to borrow necessary funds to construct and maintain the facilities needed to educate and serve our students,” said Tony Georges, assistant controller for financial reporting. “Clean audits also send the important message to our students, employees, alumni and donors that our administration operates with the utmost financial integrity and ethics.”

Among the highlights of the 2017 results were a 124 percent increase in the University’s total assets and a 160 percent increase in capital assets during the past 10 years.

According to Controller Laura Williams, the annual audit process and its subsequent clean findings are the results of a lot of work by a lot of people.

“Financial Services staff members do much of the statement and footnote preparation for the audit, but ultimately, every administrative staff member on this campus contributes in some way,” she said. “Our success in this audit is in large part because of the diligence they demonstrate in carrying out the daily financial business of the University.”

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