CSCU Closes FY22 Financials, Auditors Issue Clean Opinions
External auditors issued clean, unmodified opinions, identifying no audit adjustments, material weaknesses, or control deficiencies for Connecticut Community Colleges, Connecticut State Universities, and Charter Oak State College.
Connecticut State Colleges and Universities (CSCU) President Terrence Cheng today announced the timely and successful completion of FY22 financial closure, noting that external auditors issued clean, unmodified opinions, identifying no audit adjustments, material weaknesses, or control deficiencies for Connecticut Community Colleges, Connecticut State Universities, and Charter Oak State College.
"Over the past several years, CSCU has refined the financial close process and increased collaboration between the system office and institutional finance staff," President Cheng said. "The results of these audit reports are testament to the dedication collaboration between the system controller, the staff under CSCU’s accounting shared services and institutional finance staff. We continue to have significant financial challenges, but these successful audits confirm that CSCU remains a diligent steward of taxpayer and tuition dollars."
The CSCU Foundation's financial statements were also finalized and received unmodified, clean opinions.
The audited financial statements can be viewed at the below links.