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State system community colleges satisfy financial audits

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(The Center Square) – Three community colleges in eastern North Carolina and a fourth in the mountains have been returned satisfactory financial statement audits.

The office of state Auditor Jessica Holmes, in releases, had favorable reports for Bladen Community College in Dublin, Pamlico Community College in Grantsboro, James Sprunt Community College in Kenansville and Haywood Community College in Clyde. Each analysis was for the fiscal year ending June 30.

All four colleges in the taxpayer supported 58-college state system received identical messages from Holmes, a lawyer by trade seeking to win election this fall.

A letter read in part, “The results of our tests disclosed no deficiencies in internal control over financial reporting that we consider to be material weaknesses in relation to our audit scope or any instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.”

Further, the colleges’ financial statements were fair representations of their financial position.

Haywood’s net position improved more than $4.7 million, with total assets up over $1.8 million.

James Sprunt’s net position improved more than $3.8 million, with total assets up over $2.3 million.

Pamlico’s net position was up more than $1.2 million, with total assets increasing more than $18,000.

Bladen’s net position improved more than $2.6 million. Total assets, due to outsourcing bookstore services to Barnes & Noble, decreased more than $420,000.

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