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Auditor General Releases Reports on PCC’s Internal Control over Financial Reporting, Expenditure Limitation

February 6, 2014

Tucson, AZ – The Office of the Auditor General of the State of Arizona has released its “Report on Internal Control over Financial Reporting” for the College for the fiscal year ended June 30, 2013. The report indicates that the College has remedied all deficiencies that were noted in the report from the previous year and there were no repeat findings.

The fiscal year 2013 report identifies one deficiency regarding the reporting of the credit quality for some investments and the reporting of maturity dates for several bond investments. These errors were discovered by the auditors during the preparation of the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended June 30, 2013. The College corrected these errors prior to publication of the CAFR and has addressed the deficiency by creating procedural documentation to ensure that all investments will be accurately reported in the future. No erroneous information was published or made public.

In addition, the Office of the Auditor General of the State of Arizona has released its “Annual Budgeted Expenditure Limitation Report” for the year ended June 30, 2013. The College met the expenditure limitations requirements and appropriately excluded expenditures of certain revenues set by law.

These reports and other financial information are accessible through the College’s website: http://www.pima.edu/about-pima/reports/finance-reports/index.html.

CONTACT:
C.J. Karamargin
Vice Chancellor for Public Information and Federal Government Relations
(520) 206-4850
ckaramargin@pima.edu