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IVCC Receives Clean Audit of Finances

IVCC – File Photo Studstill Media

OGLESBY – The Illinois Valley Community College Board’s audit-finance committee learned that once again the school had a clean audit of its financial statements. Wipfli LLP auditors reported no weaknesses or deficiencies. The school is currently debt-free, and have reduced operating expenses over $460,000, according to IVCC President Jerry Corcoran. Only a slight tuition increase is expected for the 2019-2020 academic year. According to the Vice President for Business Services and Finance Cheryl Roelfsema, for the first time community colleges are required to show their College Insurance Plan liability on their financial statements. CIP is the state insurance plan for retirees, with IVCC’s liability at nearly $12 million.

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