American Samoa Community College

III.D.5. To assure the financial integrity of the institution and responsible use of its financial resources, the internal control structure has appropriate control mechanisms and widely disseminates dependable and timely information for sound financial decision-making.  The institution regularly evaluates its financial management practices and uses the results to improve internal control systems. 

Since the WASC visit in 2008, ASCC invested in the Colleague system, which integrates the Finance Division with the Divisions of Admissions, Records, Financial Aid, Academic Affairs, and Human Resources.

With the Colleague financial system, all divisions are able to review their budget and financial reports online using Web Advisor to assist in their purchasing and financial decision-making. The finance division reviews and updates all accounts to ensure control mechanisms are in place.1, 2, 3 All ASCC divisions are provided email updates to review their financial report for discrepancies regarding budget reports, and the opportunity to provide feedback to the finance division. This is part of the institutional process for internal control and check and balance.

ASCC reviews its effectiveness as part of its yearly planning review process. The annual external audit regularly evaluates the institution’s financial management practices.  Through the Audit Report and Management Corrective Letter (MCL), the finance division reviews all recommendations to be implemented to improve ASCC’s financial management practices.

ASCC reviews its budget reports to analyze and assess the effectiveness of its past fiscal planning.  This data is disseminated to the leadership team and is used as part of planning for current and future fiscal needs.  This is part of our annual budget process.