Title: Audited Financial Statement and Management Letter

Acronym: AFS

Description: In addition to their ACS Reports, community colleges are required by law to submit an Audited Financial Statement and Management Letter to various state agencies. The Audited Financial Statements are used to verify the ACS expenditure data. Discrepancies must be reconciled before ACS data is considered valid. Also see ACS Reports.

Agency: State Budget Office

Direct Agency: Center for Educational Performance and Information (CEPI)

Dean's Guide (ACS section updated 7/07): http://www.michigancc.net/perkins/resources-guide.aspx ACS Manual (revised 8/10) http://www.michigancc.net/acs/acsmanual2003.pdf

Due Date: November 15

Due Month: November

Status: Active

Status Date: 2017-07-26