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ETSU Foundation achieves stellar audit report for 22nd year

Tuesday, December 09, 2008JOHNSON CITY – For the 22nd consecutive year, the East Tennessee State University Foundation has achieved an “unqualified audit report without any findings or recommendations.”

The annual audit report covers the period from July 1, 2007, to June 30, 2008, and financial statements referred to in the report “present fairly, in all material respects, the financial position of the Foundation.”

According to the Foundation President and CEO Dr. Richard A. Manahan, ETSU vice president for University Advancement, “Results of the operations and cash flow for the year ended also conform with generally accepted accounting principles.”

He thanked the Foundation membership for their generosity and commitment to the “Margin of Excellence” at the university, and “all that it brings to the students and the region.”

ETSU President Dr. Paul E. Stanton Jr. noted that the audit report “is a demonstration of the integrity and dedication of the board of directors and of ETSU personnel in the management of the private funds entrusted to the Foundation.”

And, Leslie Parks Pope of Kingsport, who chairs the ETSU Foundation’s board of directors, also commended the Foundation members for their steadfast support, especially during such challenging economic times.

The Foundation is comprised of more than 375 individuals from throughout the region and across the nation who devote their time and financial resources to the continuous improvement of educational opportunities at ETSU.

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