Prairie State College Board Accepts Positive FY2024 Financial Audit

Article Summary: The Prairie State College Board of Trustees unanimously accepted the audited financial statements for fiscal year 2024, signaling a clean bill of financial health for the institution. A college trustee praised the administration for the thoroughness of the budget and its transparent presentation.

PSC Board Financial Actions Key Points:

• The Board of Trustees formally accepted the audited financial statements for fiscal year 2024.

• An external auditor, John Wasaki of GW & Associates, presented the findings to the board.

• Trustee John Stanfa commended the administration and Chief Financial Officer Cathy Svetanoff for a “wonderful job” on the budget.

The Prairie State College Board of Trustees officially accepted the college’s annual financial audit for the 2024 fiscal year on Tuesday, following a brief presentation from an external auditor.

The board voted unanimously to accept the statements, which provide a detailed review of the college’s financial position and practices from the previous fiscal year. John Wasaki, a partner with the auditing firm GW & Associates, was present to deliver the report to the board.

College President Dr. Michael D. Anthony acknowledged the report was delivered to the board on the night of the meeting and pledged to provide the documents earlier in the future to allow for a longer review period. “We’re working every year to get these to you sooner and sooner so you have them a little bit longer to review,” Anthony said.

Despite the short timeframe, Trustee John Stanfa said he had reviewed the entire document and was highly impressed.

“I just want to say what a wonderful job the budget was. I went through the entire thing today. It was amazing and I appreciate everything,” Stanfa said, directing his comments to Chief Financial Officer Cathy Svetanoff. Svetanoff credited the successful audit to a “big team effort.”

The board also approved routine budget transfers for February 2025 during the meeting.