May 16, 2003

2-Year Colleges in N.C. Use Accounting Software Incompatible With State Rules

By FLORENCE OLSEN

When North Carolina Community College System officials bought a new financial-accounting system three years ago, someone apparently forgot to read the fine print.

The $51-million system uses an accounting method different from the state government's.

Now the state auditor is criticizing financial misstatements that stem from what an administrator says was "miscommunication on both sides" when the colleges bought the system. And the colleges are scrambling to adjust their system

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