City University Construction Fund

Certification of Compliance with Internal Control Provisions

The City University Construction Fund (CUCF) is a public benefit corporation. CUCF pays the debt service on bonds that are sold to finance the construction of facilities for the City University of New York. State agencies and public authorities must annually certify their compliance with important provisions of internal control. We examined CUCF’s certifications of compliance for the years ended June 30, 2003 and June 30, 2004 to determine whether they was fairly stated in all material respects. We found that the certifications of compliance for these two years were fairly stated. However, we noted some areas in which CUCF could either improve its system of internal controls or strengthen its adherence to existing policies and procedures.

For a complete copy of Report 2005-Q-5 click here.