Fernandez attended the accrediting commission’s San Francisco meeting on June 4 where she also made a presentation on NMC.
“I informed the commission that we already resolved the audit findings except for the three items that have something to do with the bookstore inventory and the issue of travel for some of our federally funded programs,” she said. “I assured them that NMC is aggressively working on these three items and we’re nearing completion,” Fernandez told Variety on Friday.
NMC’s special report submitted in March centered on the 14 recommendations of the FY 2006 audit and the steps taken by the college to address them.
According to the college, it has already “secured adequate financial resources to procure the services of a professional to appraise its real properties so that an accurate valuation of NMC’s fixed assets can be made.”
The college has also “engaged the services of an independent audit firm to ensure that NMC is implementing and adhering to adequate control measure over inventory.”
NMC, moreover, has “implemented internal procedures to strengthen accounting processes and procedures” and recruited staff members to fill vacancies, including a chief accountant and a bookstore manager, that are critical to NMC’s financial operations.
Fernandez said she updated the commission about the approval of funding for NMC’s critical needs.
NMC is now waiting for a formal notice from the commission if the report it submitted on March 15 has been accepted.
After NMC’s submission of its report on Oct. 15, the commission will visit the college again before it makes a decision about its accreditation in January next year.
Asked about the status of NMC’s report, Fernandez said: “We’re on target right now and we just need to continue to work hard and stay on focus to complete all the work that needs to be done.”
