Published on April 13, 2023
A clean financial audit report was recently delivered to the JALC Board of Trustees by the Kemper Group of Marion. The findings indicated no adverse results with how the College administration accounted for and utilized the funds entrusted to it by the federal, state, and local governmental bodies. For the purpose of the audit, the College is graded on the overall accuracy of financial statements and internal controls over financial reporting and compliance.
According to College President Dr. Kirk Overstreet, auditors meet with Finance Committee Board members Dr. Glenn Poshard and Aaron Smith. In that meeting, they relayed that the College had done an excellent job in handling the finances of the College, providing evidence to residents of the College District that John A. Logan College is a good steward of their resources.
“We are proud to relay these findings to the community we serve because, in part, their tax dollars help run the College,” said Overstreet. “With this audit report, they can be assured that the College and its officers are being fiscally responsible and providing for the education and training of our communities residents.”
John A. Logan College Controller Kara Bevis said the clean audit reflects the College’s internal controls across all layers of the College’s finances.
“We have segregation of duties, which means one person does not do everything,” said Bevis. “We check and double-check everything from issued checks to P-Card statements and account reconciliation.”
Bevis added that College has several procedures in place to help prevent human error.
“We require that everyone in the business office take five consecutive days off at some point during the year. Allowing someone else to do your work for a few days provides a fresh set of eyes that can catch a minor human error,” said Bevis. “The key to this audit and other clean audits that the College has received is our whole system of internal controls that starts at the lowest level and works its way up daily, monthly, and at the end of the year.”
The Board unanimously approved the 2022 Audit Report. At the meeting, Vice President Stacy Buckingham expressed her appreciation for Bevis and all the staff involved in the audit. Buckingham added that the budget revenues and expenditures are on track for the current fiscal year that ends on June 30.