University of North Georgia is compliant with this comprehensive standard.
Gainesville State College (GSC) and North Georgia College & State University (NGCSU), the two institutions that were consolidated to form the University of North Georgia (UNG), have consistently maintained a sound and stable financial base. Both institutions were part of the University System of Georgia and were required by Section 7 of the Board of Regents Policy Manual to operate within available resources and to maintain adequate operational balances to ensure financial stability. UNG is also part of the University System of Georgia, and falls under the same requirements.
Revenue sources include the State of Georgia, student tuition and fees, and federal, state, and local grants. FY2012 total revenues for GSC and NGCSU combined were $186,793,372 , which included operating revenues of $81,965,856 consisting of tuition and fees, federal, state and local grants, and auxiliary enterprises. Total expenditures for the same period were $159,105,086 which included operating expenditures of $151,264,879 consisting of instruction, institutional support, public service, academic support, student services, operation and maintenance, scholarships, depreciation, and auxiliary enterprises.
The stability of the former GSC and NGCSU is well documented in their financial statements, which were audited by the Georgia Department of Audits and the University System of Georgia Board of Regents Auditing Office. The past 3 years of audit reports for both GSC and NGCSU are presented for review (GSC - FY 2012, GSC - FY2011, GSC - FY2010, NGCSU - FY 2012, NGCSU -FY2011, NGCSU - FY2010). Because consolidation occurred in January 2013, which was in the middle of FY2013, data for the consolidated UNG are not yet available.
UNG, as well as the former GSC and NGCSU, follow the generally accepted principles of accounting as presented in College and University Business Administration, published by the National Association of College and University Business Officers (NACUBO). As part of the University System of Georgia, UNG is a component of the State of Georgia, operating under the guidelines of the Governmental Accounting Standards Board (GASB), and is required to submit annual financial information to the US Department of Education Office of Postsecondary Education and the Integrated Postsecondary Education Data System (IPEDS).