Higher Education

Sterling Reputation. Valuable Resource.

Our dedicated team — comprised of experienced partners and numerous staff members — has made the higher education sector its designated area of expertise. VTD has been widely known as an industry leader for more than 35 years, serving higher education primarily in the state of California with audit and compliance as well as tax work for NotFor-Profit entities. This includes community college districts, Not-For-Profit foundations and Not-For- Profit colleges and universities.

The depth of our knowledge, the many years of concentrated experience and our continuing pursuit of information to ensure our expertise is spot-on sets VTD apart. We bring together our one-of-a-kind offering of knowledge for Not-For-Profit accounting, federal compliance and the very unique area of Not-For-Profit tax reporting.

Because many colleges have Not-For-Profit foundations that collect donations which can be used for scholarships, they must file annual federal and state Not-For-Profit tax returns (Form 990). Foundations are collecting money from the public, which carries an ethical requirement and fiduciary responsibility to be spent on exactly what it has been designated for. We are experts in how community colleges are required to operate including funding and enrollment fees. Apportionment funding is paid by the state from the general fund to students in a community college district, making tuition affordable; that said, apportionment funding must also be documented and reported and is subject to our audit procedures for verification.

Education is a learning process. It’s never business as usual.

Our partners speak at statewide conferences on accounting and auditing topics. We are very involved in professional California organizations including the Association of College Business Officials (ACBO), where we have presented on Emerging Audit and Accounting Issues, and the Community College Internal Auditors Association (CCIAA), where we speak on a number of audit related topics.

Because community college districts are governmental entities, they must follow government standards according to the Government Accounting Standards Board (GASB), which has a specific set of guidelines. Similarly, the Not-For-Profit educational entities must follow the guidelines of the Financial Accounting Standards Board (FASB).

Further, we offer our clients continuing workshops on accounting and compliance issues to fortify their understanding and knowledge base. By “educating our educators” on these relevant topics and the requirements of the law, our clients are informed and the public is better served. This gives us a tremendous sense of accomplishment.