The University’s audited financial statements are used to prepare the annual Financial Profile submitted to the Commission. The most recent Financial Profile was submitted in June 2009. Furthermore, the most recent Institutional Profile for General Information and Enrollment Data was submitted before the deadline in January 2010. These profiles are submitted annually to the Commission by the University.

Financial statements are prepared annually and presented to the President of Athens State University (ASU) for review and for submission to the Chancellor of the Department of Postsecondary Education, who is responsible for the oversight of the institutions in the Alabama Community College System (ACCS). An external audit process verifies the accuracy of the annual audited financial statements (2003, 2004, 2005, 2006, 2007, 2008, 2009). These statements are prepared in accordance with generally accepted accounting principles according to guidelines established by the Governmental Accounting Standards Board. The three required basic financial statements are: The Statement of Net Assets; the Statement of Revenues, Expenses, and Changes in Net Assets (SRECNA); and the Statement of Cash Flows. These statements are accompanied by the management discussion and analysis section and notes to the financial statements. The audited financial statements are further supported by additional information provided in exhibits, schedules, and appendices included with the statements.