Section 2:
Core Requirements
2.1 2.2 2.3
2.4 2.5 2.6
2.7.1 2.7.2 2.7.3
2.7.4 2.8 2.9
2.10 2.11 2.12
Section 3:
Comprehensive Standards
3.1.1 3.2.1  
3.2.2.1 3.2.2.2 3.2.2.3
3.2.2.4 3.2.3 3.2.4
3.2.5 3.2.6 3.2.7
3.2.8 3.2.9 3.2.10
3.2.11 3.2.12 3.2.13
3.2.14 3.3.1 3.4.1
3.4.2 3.4.3 3.4.4
3.4.5 3.4.6 3.4.7
3.4.8 3.4.9 3.4.10
3.4.11 3.4.12 3.4.13
3.4.14 3.5.1 3.5.2
3.6.1 3.6.2 3.6.3
3.7.1 3.7.2 3.7.3
3.7.4 3.7.5 3.8.1
3.8.2 3.8.3 3.9.1
3.9.2 3.9.3 3.10.1
3.10.2 3.10.3 3.10.4
3.10.5 3.10.6 3.10.7
Section 4:
Federal Requirements
4.1 4.2 4.3
4.4 4.5 4.6
4.7 4.8

 

 

 
McNeese State University
Compliance Plan for Reaffirmation
 
 

Section 3.10.2: Financial and Physical Resources

Judgment of Compliance

checked.png Compliance
unchecked.png Partial Compliance
unchecked.png Non-compliance

Requirement

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.

Narrative

McNeese State University is in compliance with Comprehensive Standard 3.10.2.

McNeese State University provides annual financial statements and other documents substantiating the financial health of the institution to the University of Louisiana System. These documents accurately and completely represent the total operation of the university. The annual financial statements are prepared according to accounting principles established by the Governmental Accounting Standards Board (GASB.) The Management’s Discussion and Analysis (MD&A) is included with the financial statements, and this document provides an overview, analysis, and additional information regarding the institution’s financial activities.

The University also submits quarterly financial reports to the University of Louisiana System. These statements are in a standardized form required by the System.

McNeese State University annual financial statements are prepared and submitted to University of Louisiana System where they are included with the University of Louisiana System financial statements. The University of Louisiana System is audited by the Office of the Legislative Auditor annually. Biennially, as a component of the University of Louisiana System, McNeese State University is subject to certain tests by the Legislative Auditor, and a management Letter is issued by the Legislative Auditors Office delineating the results of the auditors’ tests. When performing its tests of McNeese State University, the Legislative Auditor considers internal controls over financial reporting, examines evidence supporting accounts/balances material to the System’s financial statements, and gauges the University’s compliance with laws and regulations that could have a direct and material effect on the System’s financial statement.

The following items are submitted for review:

    • McNeese State University Financial Statement for year ended June 30, 2006

    • McNeese State University Financial Statement for year ended June 30, 2005

    • McNeese State University Financial Statement for year ended June 30, 2004

    • University of Louisiana System Financial Statement Audit Report 2005

    • McNeese State University Management Letter - 2005

    • McNeese State University Management Letter – 2003

    • Quarterly financial report for the period ended June 30, 2006

University of Louisiana System institutions are required to submit Quarterly Financial Status Reports and other financial data as requested, thereby providing additional measures for on-going evaluation of the institutions’ stability and financial health

Supporting Evidence

University of Louisiana System Audit Report 2005

Legislative Auditor Management Letter June 30, 2005

Legislative Auditor Management Letter June 30, 2003

Annual Financial Report for the year ended June 30, 2005

Annual Financial Report for the year ended June 30, 2004