Page 12 - 2019-20 CAFR

3345 Redwood Hwy
Grants Pass, OR 97527-9298

December 9, 2020

The Board of Education
Rogue Community College
Grants Pass, Oregon

We are pleased to submit the Comprehensive Annual Financial Report (CAFR) of Rogue Community College (the
College) for the fiscal year ended June 30, 2020, together with the audit opinion therein of our auditors as

required by Oregon State Statutes. Responsibility for both the accuracy of the presented data and the

completeness and fairness of the presentation, including all disclosures, rests with the College. We believe the
financial statements and related information are stated fairly in all material aspects in reflecting the financial

position and results of operations of the College. All disclosures necessary to enable the reader to gain maximum
understanding of the College’s financial affairs have been included.

We would like to extend a special thank you to faculty, students, staff and the community for their continued

patience and support as we navigate unprecedented and challenging times during the COVID pandemic. Over

the last several months the COVID-19 crisis and local wildfires have affected each of us in challenging ways. All

the while, we have come together as a community encouraging, helping, and supporting each other.

This report consists of management’s representations concerning the finances of the College. To provide a

reasonable basis for making these representations, management of the College has established a comprehensive

internal control framework. It is designed to protect the College’s assets from loss, theft, or misuse, and to

compile sufficient, reliable information for the preparation of financial statements in conformity with Generally

Accepted Accounting Principles (GAAP) in the United States of America. Because the cost of internal controls
should not outweigh their benefit, the College’s comprehensive framework of internal controls has been

designed to provide reasonable, rather than absolute, assurance that the financial statements will be free from

material misstatements. As management we assert, to the best of our knowledge and belief, this financial report

is complete and reliable in all material aspects.

GAAP requires management provide a narrative introduction, overview, and analysis to accompany the basic

financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is

designed to complement the MD&A and should be read in conjunction with it. The College’s MD&A can be found

immediately following the independent auditor’s report in the Financial Section.

The CAFR is organized in four sections: (1) The Introductory Section contains this letter of transmittal and

information on the organizational structure of the College; (2) The Financial Section includes the basic financial

statements, accompanying notes, required supplemental financial information, and the independent auditor’s
report; (3) The Statistical Section includes selected financial, demographic, economic and operating information;

(4) The State and Federal Compliance Section contains the Schedule of Expenditures of Federal Awards and

disclosures and comments required by the Minimum Standards for Audits of Oregon Municipal Corporations

and by the Uniform Guidance.
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