TWIN FALLS — The College of Southern Idaho received an “unqualified” opinion on its yearly audit — the highest possible mark.
The college’s board of trustees approved the report Monday. It came after a presentation by auditor France, Basterrechea, Wagner & Bunn, a Gooding-based firm that has completed the college’s audit for three years.
The audit gauges the college’s overall financial health and how it’s managing taxpayer money.
Auditors say the college’s finances for fiscal year 2017, which ended June 30, improved compared with the previous year.
“The improvements are the result of management’s continuing efforts to enhance fiscal performance,” the report states.
The shining audit is welcome for CSI, considering Dawn Marie Orr — a former business office employee — was sentenced in July 2015 to at least 10 years in prison after embezzling more than $530,000 from the college.
As a result, CSI hired a certified fraud examiner to review cash receiving and payroll processes. She presented 10 recommendations to trustees in November 2014, and all of them have since been implemented.
CSI’s 2017 audit shows an increase in state funding, from $18.9 million to $20.5 million, and an increase in operating expenses, from $71.6 million to $75.5 million.
The college isn’t financing any of its operations with debt, according to the report.
An economic outlook section in the report predicts housing and job markets will remain strong in CSI’s service area.
“Improvements in the economy have both a positive and negative effect on enrollments in community colleges,” the report states.
During their Monday meeting, trustees also heard an enrollment report. Each year, they’re required to report fall student numbers from Oct. 15 to the state. Since that fell on a Sunday, enrollment numbers are from Monday.
The college’s total headcount is 7,063 students. That’s up 0.6 percent, or 42 students, compared with fall 2016.
CSI saw a 3.1 percent drop in full-time enrollment.
But the growth trend continues for dual credit, which allows high schoolers to earn college and high school credits simultaneously. There was a 11.9 percent increase this semester over last fall.