Hillsborough Community College provides financial statements and other related documents which accurately and appropriately represent its total operation.
Hillsborough Community College has completed and submitted its most recent institutional profile for financial information (HCC Financial Profile 2005) and for general and enrollment information (HCC Profile for General Information and Enrollment Data, Fall 2005) as requested by the Commission.
The College produces numerous other reports to demonstrate our financial solvency to our constituencies.
Hillsborough Community College conducts an extensive and inclusive budget process. The HCC District Board of Trustees participates in budget workshops each April and June prior to the proposed budget document being submitted for approval (June 2005 Budget Workshop Document). The document includes a review of the results of the prior fiscal year’s budget initiatives.
Hillsborough Community College prepares a monthly financial report, which the College President presents to the Board of Trustees at regular Board meetings (HCC Board of Trustees Financial Report, September 2005). These monthly financial reports allow for frequent Board review of revenue, expenditures, and fund balance. At the close of the fiscal year (June 30), the College prepares the Annual Financial Report (AFR) (Annual Financial Report, July 1, 2004 – June 30, 2005) which includes the unaudited financial statements and other financial schedules. Statements and schedules contained within the AFR are prepared in a manner consistent with the State of Florida Accounting Manual's rules for community colleges.
The College’s financial statements contained in the Annual Financial Report are audited by the State of Florida Auditor General’s Office (State of Florida Auditor General Financial Report 2002-2003; 2003-2004; 2004-2005). These audited statements are provided by the Auditor General directly to the HCC Board of Trustees as well as to the College President, the Chief Financial Officer, and the local media; the statements are also posted on the State Auditor General’s website.