Date: March 9, 1998 Code: AD 98-05

To: Campus Librarians

From: George A. Pardon

Accounting Director

Business and Finance

Subject: Audited Combined Financial Statement Report of the California State University

Attached is the audited combined financial statement report of the California State University (CSU) for the fiscal year ended June 30, 1997. This is the first time that the CSU has had a combined financial statement audited by an external auditor. This financial report was prepared in accordance with generally accepted accounting principles and is presented utilizing the financial statement model of the American Institute of Certified Public Accountants' Industry Audit Guide, Audits of Colleges and Universities. This financial report is being distributed pursuant to Education Code Section 89761.

The audited combined financial report is also available at the California State University systemwide website at http://www.co.calstate.edu/systemwide.html

Please contact me or Ruth Stipp with questions regarding any of these issues at (562) 951-4610 or e-mail george_pardon@calstate.edu and ruth_stipp@calstate.edu, respectively.

GAP:js AD 98-05

Attachment (Please refer to the website as noted, or see your campus librarian for a hard copy of the attachment.)

Distribution: Ms. Ruth Stipp