(Cicero, IL) The Annual Comprehensive Financial Report (ACFR) of Morton College, presented by BKD CPAs & Advisors (BKD), provided the institution with a “clean” opinion of its FY 2021 financial statements, the best type to receive from independent review. The audit highlights the institution’s exemplary fiscal management and includes reports on Morton College’s schedule of expenditures of federal awards and its internal control over financial reporting and compliance.
“We strive for fiscally responsible planning for our immediate and future needs.” said Morton College President, Dr. Stan Fields. “We are proud of the hard work and dedication of our Chief Financial Officer, Mireya Perez, and her team for the financial stability brought to our institution for the past three years.
BKD audited Morton College’s basic financial statements and related notes for the fiscal year ending June 30, 2021, and issued a clean, unmodified opinion dated February 23, 2022. BKD also issued two clean, unmodified reports that are required as part of the Single Audit, covering spending of Federal awards. The two major Federal award programs audited under the single audit were student financial aid and the Higher Education Emergency Relief Fund (HEERF). BKD did not identify any significant deficiencies or material weaknesses as part of the audit process, and no written findings were reported. Additionally, no audit adjustments were identified.
We continue to focus on maintaining a financially sustainable organization while maintaining our commitment to student academic success. During the pandemic, this goal did not waver. We are encouraged by the continued dedication of our faculty, administrators, staff, and the Board of Trustees to make Morton College an excellent place for higher education.