2007 Reaffirmation Teams :: 3.10.2 - 2007 Reaffirmation Teams

2007 Reaffirmation Teams

3.10.2 - 2007 Reaffirmation Teams

The institution provides financial profile information on an annual basis and other measures of financial health as requested by the Commission. All information presented accurately and appropriately represents the total operation of the institution.

Compliance Judgment

Compliance

Narrative

The University of Texas at Dallas (UT Dallas) provides financial statements and related documents, including multiple measures for determining financial health as requested by the SACS Commission that accurately and appropriately represent the total operation of the institution. In January 2007, UT Dallas submitted the most recent copy of its institutional profile for general information and enrollment data [1]; the SACS Commission did not request further information. In July 2006, UT Dallas submitted its 2006 financial profile [2]; no additional information was requested by the SACS Commission. In July 2007, UT Dallas submitted its 2007 financial profile [3]; there has been insufficient time to know if further information will be needed, but none is expected.

UT Dallas’ annual financial reports are posted on the university’s website [4]. These reports include the Balance Sheet, a Statement of Net Revenues Expenses and Change in Net Assets, and a Statement of Cash Flows [4].

Consolidated annual financial reports for UT System are located on the UT System Office of the Controller website [5]. Budget information is provided in the UT System Operating Budget Summaries [6]. Consolidated general and enrollment information is located in the UT System’s Accountability and Performance Report [7].

Evidence that UT Dallas is capable of sustaining its financial status in the future is apparent through its budget process. UT Dallas follows the budget guidelines set forth in Series 20501 of the UT System Board of Regents’ Rules and Regulations [8]. Each budgetary unit within UT Dallas is provided with a detailed monthly activity report listing that shows the original and the adjusted budgets, encumbrances, expenditures, and balances [9]. Each department’s financial records are available online through UT Dallas’ financial record system (FRS) [10] [11]. FRS allows managers to review income and expenditure data continually on a year-to-date or prior year-to-date basis. UT Dallas projects semester credit hours and student headcount by lower and upper undergraduate, masters, and doctoral levels to monitor annual budget progression. The revised projections are compared to the original budget projections and adjustments are made. This process allows the university to examine and revise expenditures to match revised income being generated, thus assuring future financial stability for the university.

An accurate depiction of the operation of the institution can be seen in its annual audit. The auditing firm Deloitte & Touche recently audited UT System’s fiscal year ending on August 31, 2006. Deloitte & Touche’s report and management letter were released in January 2007 [12]. No material weaknesses were noted in UT Dallas’ fiscal management for fiscal years 2004, 2005, or 2006. The State of Texas Auditor’s Office issued the federal portion of the statewide single audit report for fiscal year ending August 31, 2006 [13]. All findings have been addressed by management in the response to Principle 2.11.1 [14], and the response to Principle 3.10.1 [15] contains information regarding UT Dallas’ sound financial base, demonstrated financial stability, and adequate physical resources.

Supporting Documents

Footnote Document
[1]Institutional Profile SACS
PDF Document, 7 Pages, 1.72 MB (instruction1035)
[2]2006 Financial Profile SACS Form A
PDF Document, 4 Pages, 185.18 KB (report1398)
[3]2007 Institutional Financial Profile SACS
PDF Document, 3 Pages, 124.38 KB (report1400)
[4]Diagram Annual Financial Report Web Page
PDF Document, 1 Page, 15.71 KB (diagram1073)
[5]UT System Annual Financial Report (Independent Auditors Report) FY05-06
PDF Document, 126 Pages, 1.61 MB (report1127)
[6]UT System Operating Budgets FY 2006
PDF Document, 103 Pages, 931.41 KB (report1157)
[7]UT System Accountability and Performance Report 2006-07
PDF Document, 416 Pages, 1.97 MB (report1158)
[8]Series 20501, Board of Regents, Accounting Operating Budget and Legislative Appropriation Requests
PDF Document, 3 Pages, 16.54 KB (rule1025)
[9]Monthly Financial Report
PDF Document, 1 Page, 36.16 KB (budget1000)
[10]UT Dallas Financial Records System Basic Inquiry Screens
PDF Document, 3 Pages, 68.84 KB (instruction1030)
[11]UT Dallas Financial Records System Manager Screens
PDF Document, 7 Pages, 513.79 KB (instruction1014)
[12]Management Letter: Deloitte and Touche Audit of UT System Financial Statements FY06
PDF Document, 10 Pages, 1,001.92 KB (report1106)
[13]State Auditors Office Federal Audit Report FY06
PDF Document, 376 Pages, 2.57 MB (report1159)
[14]Principle 2.11.1 - Financial Resources (u214)
Link to UT Dallas 2007-ccr Compliance Certification Report
[15]Principle 3.10.1 - Financial Stability (u355)
Link to UT Dallas 2007-ccr Compliance Certification Report
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