TBC Annual Audits & Accountability
For the next number of weeks various departments here at the college will be busy preparing for our annual financial audit. Each year for two weeks, auditors from an independent auditing firm come to campus to do an independent investigation, testing the accuracy of our financial records and reviewing our internal controls. Everything is open for their review. In the end, they produce a report giving their professional opinion of whether our financial statements accurately represent our financial position according to generally accepted accounting principles (GAAP). Last year, we received a wonderful report from our auditors. We are so grateful for the tremendous progress that has been made!
Our Commitment to Transparency & Excellence
An audit is costly and brings with it an incredible amount of preparation in time and manpower. So why does Trinity Bible College expend this kind of time, talent and finance?
I believe there are 3 reasons:
First of all, it is required of us. Like most colleges, we participate in federal programs – like Federal Student Aid (FSA) – which require an audit to participate.
Secondly, it is part of the normal business process of a healthy organization. It provides an objective benchmark to evaluate how well things are going and reviews policies and procedures to insure healthy protocols are being followed. This aids our efficiency, protects our organization, and provides important information for other organizations like banks and vendors. As a donor, an audit gives you the security of knowing that our finances are in order and the assurance that donations are being spent as you intended.
Thirdly, and honestly most importantly, we desire to see the Kingdom of God advanced. We believe that the Body of Christ is the Hope of the World and that Trinity Bible College is uniquely positioned to raise up the next generation of world changers. As such, we do not want our progress to be hindered by questionable practices that could bring dishonor to the Kingdom and to our God.
Our desire is to be transparent, honest and forthright in all we do. We want to maintain the trust of those we serve, the respect from the world around us and bring honor to our God. We thank you for your continued confidence and support of Trinity Bible College.
In His Service,
Winston G. Titus – Vice President of Administration
*If you would like to donate to Trinity Bible College please CLICK HERE to give online.