A Finding Aid for the Finance Reports/Audit Reports Records 1945-2011

Collection Summary

Collection Title: Finance Reports/ Audit Reports

Creator: Ferris State University. Office of Budget and Planning.

Dates: 1945-2016

Abstract: The Financial Reports/Audit Reports contain the annual certified financial statements required by law. Reports are filed chronologically by year. State audits are also included.

Language: English

Quantity: 3.0 cubic feet; 2 records center boxes

Identification: UA 5.2.600

Repository: Ferris State University Archives and Records Management Program

Historical Note

The initial Statistical Information Booklet was produced in February 1983 as a way of providing consistent answers to questions for basic statistical information. This data was gathered from already existing sources and compiled by the Office of Budget and Planning.

The booklet was approximately 35 pages. Most of the information was provided in a table format. Information was divided into educational offering materials (students and faculty) and a brief section on college revenue. It was produced in February in order to allow time for fall enrollment data to be analyzed. It continued to be produced on a semi-annual and then annual basis. The last known copy was in 1986.

A publication containing similar statistical sets was introduced in 1991. It was called the Fact Book.

Scope and Content Note

In 1894, Woodbridge N. Ferris registered his school with the state of Michigan as a non-profit corporation. As a non profit corporation, and later as a part of a government agency, the school held itself responsible for following GAAP (generally accepted accounting principles). This provided an assurance that the school was not being wasteful or diverting money elsewhere. A crucial part of GAAP is an external annual audit.

The first known audit report was from 1945 and conducted by Daniel Kurzewski. It was reviewed by Alfred Cramer, an accounting professor at the school. In 1946, the institute contracted with accounting firm Ernst and Ernst to provide reports. In the late 1950s, as the programs began to expand, and buildings were created, more funds were audited separately. Each fund listed in the report gives a statement of financial condition and a statement of changes in fund balance. Other financial information includes details of other funds, physical properties, plant additions and debt owed. It serves essentially as a cash-flow statement of assets and liabilities. Reports can be up to 50 pages long. Reports began to be rebound and issued to the campus as a "financial report" in the 1980s.

State audit reports provide more of a recommendation than a detailed cash flow. It points out weaknesses and areas for improvement.

Arrangement

The papers are divided into two series.

Series 1. Audit Reports. 1945-1997.
Series 2. State Audit Reports. 1968-1996.

Access Information

Conditions of Access

The Finance Reports/Audit Reports are open for research to all users in accordance with University Archives and Records Management access policies. It is available in the reading room of the Ferris State University Archives.

Conditions of Use

Requests for permission to publish material should be directed to the University Archivist. It is the responsibility of the researcher to identify and satisfy the holders of all copyrights.

Copyright interests for this collection have been transferred to Ferris State University. For more information, contact the University Archivist.

Subject Headings

Below are a list of names, organizations and subjects relating to the collection. Names have been taken from Library of Congress Authority headings whenever possible.

Audits
Ferris State University (Big Rapids, Mich.) - Auditing
Ferris State University (Big Rapids, Mich.) - Evaluation
Ferris State University (Big Rapids, Mich.) - Finance Office
Legislative auditing- Michigan

Related Materials

Report of Examination Records (UA 5.2.601)

Administrative Information

Citations

Footnotes and bibliographic references should use the following format:
[Item], Folder, Box (or url). Finance Reports/Audit Reports. Ferris State University Archives. Big Rapids, Michigan.

Provenance (Acquisition Information)

Portions of the audits were transferred by Neva Martin in the President's office in fall 1983. The remainder of the records were transferred to the University Archives by the Finance Office in February 2007. The rest were located in the library reserve collection.

Processing Information

The Finance Reports/Audit Reports were processed to the folder level by Melinda McMartin Isler in December 2008. A finding aid was prepared in a word processing format and converted to EAD 2.0. A collection level MARC-21 record was prepared and placed in the library online public access catalog. Description based on Describing Archives: A Content Standard (Chicago: Society of American Archivists, 2004).

Technical Requirements

This collection consists of bound typed papers on 8.5 x 11 sheets of paper. There is no specialized software required for viewing.

Content Listing

Series 1. Audit Reports. 1945-2016.

This series consists of 2.5 cubic feet of records of certified financial reports. Information includes a balance sheet listing assets and liabilities and fund balances.

They are arranged chronologically.

Box	Folder	Contents
1	1	Auditors report. Prepared by Daniel Kurzewski. 1945-1946.
1	2	Report of Examination. Prepared by Ernst and Ernst. 31 August 1947.
1	3	Report of Examination. Prepared by Ernst and Ernst. 31 August 1948.
1	4	Report of Examination. Prepared by Ernst and Ernst. 31 August 1949.
1	5	Report of Examination. Prepared by Ernst and Ernst. 10 Month Period ending 30 June 1950.
1	6	Financial report. 1960-1961.
1	7	Financial report. 1961-1962.
1	8	Financial report. 1962-1963.
1	9	Financial report. 1963-1964.
1	10	Financial report. 1964-1965.
1	11	Financial report. 1965-1966.
1	12	Financial statements. Prepared by Ernst and Ernst. 30 June 1967.
1	13	Financial statements. Prepared by Ernst and Ernst. 30 June 1968.
1	14	Financial statements. Prepared by Ernst and Ernst. 30 June 1969.
1	15	Financial statements. Prepared by Ernst and Ernst. 30 June 1970.
1	16	Financial statements. Prepared by Ernst and Ernst. 30 June 1971.
1	17	Financial statements. Prepared by Ernst and Ernst. 30 June 1972.
1	18	Financial statements. Prepared by Ernst and Ernst. 30 June 1973.
1	19	Financial statements. Prepared by Ernst and Ernst. 30 June 1974.
1	20	Financial statements. Prepared by Ernst and Ernst. 30 June 1975.
1	21	Financial statements. Prepared by Ernst and Ernst. 30 June 1976.
1	22	Financial statements. Prepared by Ernst and Ernst. 30 June 1977.
1	23	Financial statements. Prepared by Ernst and Ernst. 30 June 1978.
1	24	Financial statements. Prepared by Ernst and Ernst. 30 June 1979.
1	25	Financial statements. Prepared by Ernst and Whinney. 30 June 1980.
1	26	Financial statements. Prepared by Ernst and Whinney. 30 June 1981.
1	27	Financial report. 1981-1982.
1	28	Financial report. 1982-1983.
1	29	Financial report. 1983-1984.
1	30	Financial report. 1984-1985.
1	31	Financial report. 1985-1986.

Box	Folder	Contents
2	1	Financial report. 1986-1987.
2	2	Financial report. 1987-1988.
2	3	Financial report. 1988-1989.
2	4	Financial report. 1989-1990.
2	5	Financial report. 1990-1991.
2	6	Financial report. 1991-1992.
2	7	Financial report. 1992-1993.
2	8	Financial report. 1993-1994.
2	9	Financial report. 1994-1995.
2	10	Financial report. 1995-1996.
2	11	Financial report. 1996-1997.
2	12	Financial report. 1997-1998.
2	13	Financial report. 1998-1999.
2	14	Financial report. 1999-2000.
2	15	Financial report. 2000-2001.
2	16	Financial report. 2001-2002.
2	17	Financial report. 2002-2003.
2	18	Financial report. 2003-2004.
2	19	Financial report. 2004-2005.
2	20	Financial report. 2005-2006.
2	21	Financial report. 2006-2007.
2	22	Financial report. 2007-2008.
2	23	Financial report. 2008-2009.
2	24	Financial report. 2009-2010.
2	25	Financial report. 2010-2011.
2	25b	Financial report. 2014-2015; 2015-2016.

Series 2. State Audit Reports. 1968-1996.

This series consists of 0.5 cubic feet of records of state audit reports. It includes similar information to other audits and is prepared by the auditor general.