“The college now embraces and has adopted procedures to safeguard funds,” the commission report stated. “NMC received the 2007 audit and has resolved each of the findings.”
The report noted that the previous audit findings were neither shared with the NMC board of regents nor College President Carmen Fernandez in a timely manner.
However, following the evaluation in Nov. 2008, the commission said the lack of communication and information sharing had been resolved.
“The president has taken a hands-on level of involvement demonstrating the seriousness of the audit and the institutional resolve to manage its resources appropriately,” the report stated.
According to the commission, since the audit was issued, NMC’s chief financial officer resigned while an interim appointment was made.
The college president now monitors purchases, travel, accounts receivables, accounts payable and cash management, the report stated.
The commission required NMC to include in its Oct. 2008 Show Cause Report its responses to the 2007 external audit findings.
Dr. Sherrill L. Amador led the team that conducted an evaluation of the college’s compliance with the commission’s recommendation on Nov. 3-5, 2008.
The team submitted its findings and evaluation to WASC which decided to extend NMC’s show cause status, which is one step from loss of accreditation.
Accreditation allows NMC and its students to apply for federal aid. It also means that classroom credits NMC students are earning will be recognized by other accredited colleges in the U.S.
NMC, the report stated, was able to develop forms that are utilized to initiate purchases and other expenditures with appropriate signature requirements.
All travel is reviewed and approved by the NMC president.
According to the commission, there are no unresolved travel expenditure issues from already-completed travel.
No new approval of travel is done for any person until such time as the issues are resolved satisfactorily, the report noted.
The commission said NMC conducts monthly reviews to ensure that documentation matches the various requirements, including request, signature, inventory and receipt forms.
“College staff was following the procedures and accountability measures are in place to address any staff member who fails to follow procedure,” the report said. “Policies and procedures are in place with careful monitoring at the presidential level.”
