Why does the audit process take so long?
The house audit starts after the previous year* closes, i.e. the school year 2015/16 will be audited after the 2016/17 school year starts Sept 1, 2016. We have to wait until October 2016 to be sure we have all the receipts and reconciliations in. Then we ask each House Treasurer to approve the deficit or surplus before we can send the checks to members. We also verify each member’s address before we send the checks (so confirm it with us first!)
*The Fiscal Year for the Student Housing Cooperative (Sept 1 - Aug 31) is not the same as the calendar year (Jan 1 - Dec 31). It’s similar to the school year calendar.