Financial Reporting

Effective Date: July 1, 2014

Last Reviewed: July 1, 2015

Interim Date: July  21, 2015

Purpose

The purpose of the policy is to establish financial reporting guidelines for Meharry Medical College which assists the Finance Committee and the Board of Trustees to make informed financial decisions in carrying out its fiduciary responsibility and allows financial management to manage and utilize the assets and resources of the College in an efficient, cost-effective and timely manner.

Policy Statement

It is the policy of Meharry Medical College to provide financial reports to the Finance Committee of the Board of Trustees on a quarterly basis. The information must be accurate, timely, reliable, and consistent. The reports are designed to provide comparative analysis based on prior year actual to current data. The reports compare actual activity to budgeted activity in both revenues and expense, and show the variance.

The financial reports are available on a monthly basis to the campus community by the 5th working day of each month.

This policy is currently awaiting approval. You can view the interim policy to the right or by clicking here.