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Audit committee accepts FGCU Financing Corporation audit; financing corp. covers housing and parking
Summary
The Audit and Compliance Committee accepted the FGCU Financing Corporation’s independent audit for the year ended June 30, 2025; auditors issued a clean opinion and the corporation continues to represent student housing, parking and upcoming workforce housing.
Director of Internal Audit Bill Foster presented the FGCU Financing Corporation Independent Auditor's Report for fiscal year ended June 30, 2025 and recommended the committee accept and recommend it to the full Board.
Foster said the audit was performed by HSC/Tuscan & Company and carried a clean opinion. He explained that the FGCU Financing Corporation represents student housing and parking and will also represent planned employee workforce housing. He also noted that student parking fees are included in tuition but that approximately 1,500 faculty and staff purchased parking decals.
Trustee Leo Montgomery moved to accept the Financing Corporation audit; Trustee Peter Sulick seconded. The committee voted unanimously with no public comment or further discussion.
The committee will forward the acceptance recommendation to the FGCU Board of Trustees at its Jan. 13 meeting.
