Pro Formas

The Office of the State Auditor prepares the University and Community College pro forma financial statements and notes to the financial statements annually. These pro formas are prepared in an effort to help the institutions better meet the challenges presented by the ever-expanding GAAP requirements that impact the financial reporting process and to provide consistency in reporting. Financial reporting responsibility rests solely with the management of each institution.

Please note that the pro formas are designed to be a starting point … a suggestion for how disclosures can be prepared to meet GASB requirements. It is important to note, however, that these pro formas may not be all inclusive. The disclosures included are limited to only standard disclosures that are normally encountered at universities and community colleges. They do NOT provide pro forma text for all GASB requirements. Each institution will need to prepare the disclosures for any GASB requirements that apply to the institution that are not addressed here.

Please submit completed financial statements to: osa.financialstatements@ncauditor.gov

Agencies that contract with a CPA firm for their audit may submit the audit report to: osa.reportsubmission@ncauditor.gov

Changes to Title II of the Americans with Disabilities Act on Web Content and Mobile Application Accessibility
The U.S. Department of Justice updated its regulations in 2024 to adopt specific accessibility requirements for web content and mobile applications provided by state and local governments. Under the rule, public entities are expected to ensure that covered web content and mobile applications conform to applicable accessibility standards by the relevant compliance date. Entities preparing and providing financial statements and related information to the Office of the State Auditor are encouraged to use their best efforts to align their materials with these requirements to assist our office in preparing these reports. Additional information regarding the new web and mobile accessibility requirements, including compliance guidance and implementation details, is available in the U.S. Department of Justice’s fact sheet and related resources at https://www.ada.gov/resources/2024-03-08-web-rule/.