3354:2-3-08. Financial records and audits

(A) The treasurer, as designated by the board, is responsible for all Financial records and statements.

(B) An audit of the college's Financial records is to be performed by the auditor of state or his/her representative as provided by the Ohio Revised Code.

(1) Audit scope:

(a) An examination of the general purpose financial statement of the college as of and for the fiscal year ending June thirtieth.

(b) Tests of compliance with various provisions of state statutes, regulations, and applicable college policies and procedures.

(c) An examination of federal and state financial aid and other grant programs in accordance with applicable guidelines.

(2) They board shall participate in an exit conference at which time the audit results will be reviewed and explained by the auditor of state or his/her representative.

Replaces: 3354-2-3-08

Effective: 5/3/2004
Promulgated Under: 111.15
Statutory Authority: 3354
Rule Amplifies: 3354
Prior Effective Dates: 1/11/96, 3/3/2003