resourcefulness in managing limited dollars. Through responsible management, we have maximized our dollars and focused on strategic optimization of our assets. In 2012, the Financial Ratio Analysis Study of the thirty-seven UNCF member institutions revealed that Tougaloo College ranked number 11 in overall financial health. Using the Composite Financial Indicator as a measure, we analyzed six categories: overall financial health, core ratios, resource sufficiency and flexibility, resource management, asset performance, and management and operating results. In all areas, the College performed better than or equal to the larger and better-endowed institutions. Each year the College undergoes an audit by an independent certified public accounting firm, which conducts its audit in accordance with generally accepted auditing principles. Effective the fiscal year ending June 30, 2005 through June 30, 2012, the College has received “unqualified” (without reservation) opinions on the financial statements and A-133 audit report with no concerns identified. During these years, the College has increased its net assets. The Tougaloo College of today has first-rate financial management systems. We have institutionalized internal controls, budgetary controls, and feedback, operating with accountability, responsibility, and integrity. Additionally, the Office of Institutional Research, Assessment and Planning (IRAP) has conducted a compliance certification audit using the new Principles of Accreditation: Foundation for Quality Enhancement (QEP). This audit has resulted in the reaffirmation, twice, of the College’s accreditation standing with the Southern Association of Colleges and Schools, Commission on Colleges (SACS). These positive results have transpired in the midst of a weak economy, leaving the College poised for prosperity and posterity.
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Tougaloo College
• A Retrospective: 2002-2012 and 2012-2013 Annual Report