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Independent audit finds CSCU 2020 construction expenditures recorded correctly; no adjustments required
Summary
Whittlesey, the independent auditor, reported an unmodified opinion on the CSCU 2020 construction expenditure schedule for the year ended June 30, 2024, finding no audit adjustments and confirming the cash‑basis presentation and disclosures were consistent with prior years.
Whittlesey presented its audit of the CSCU 2020 construction expenditure schedule to the Audit Committee on May 29, 2024, reporting an unmodified (clean) opinion and no audit adjustments.
The schedule — presented on a cash‑basis as in prior years — showed $29,600,000 in expenditures paid in the year ended June 30, 2024, and the auditors performed ledger reconciliations and transaction sampling between the individual colleges and the system office. Whittlesey said the transition from the prior auditor (Cohen Resnick) was smooth and that no subsequent events required adjustment through the report date.
Ending Whittlesey said it is ready to issue the report upon receipt of the management representation letter and that the notes and disclosures did not materially change from prior years.
