The college made significant improvements in its financial management practices since our last audit report issued in March 2001. North Hennepin Community College has resolved or substantially resolved all of the 12 prior audit findings. The college's internal controls provided reasonable assurance that the college safeguarded assets, properly recorded financial activity in the accounting records, and complied with finance-related legal provisions and management's authorizations. The college also operated within available financial resources. However, we did note areas where the college can improve its operations.
Key Findings and Recommendations:
North Hennepin Community College is part of the Minnesota State Colleges and Universities (MnSCU) system. This financial-related audit report focused on financial management, tuition and fees, employee and student payroll, enterprise activities, and other administrative expenditures for the period from July 1, 2000, through June 30, 2002.