Summary

Our operational audit for the fiscal year ended June 30, 2008, disclosed the following:
 

Finding No. 1:    The College did not have a written policy for communicating and reporting known or suspected fraud.
 

Finding No. 2:    The College’s procedures for administering construction projects regarding verifying subcontractor licenses needed improvement.
 

Finding No. 3:    The College did not have written policies and procedures prescribing minimum liability insurance coverage requirements for design professionals.
 

Finding No. 4:    Certain security controls related to the College’s information technology systems needed improvement.
 

The College's response is included as Exhibit B of this report.