How Stockton Is Accountable

At The Richard Stockton College of New Jersey, we are accountable both academically and financially. The College has an annual financial audit performed by an independent audit firm, which reviews the College financial statements. The Board of Trustees recognizes the need to adopt Sarbanes-Oxley recommendations to ensure financial responsibility and, in doing so, formed an audit committee. Stockton will continue to adapt policies—or best practices—to strengthen internal controls. One example of best corporate practice is the establishment of  internal procedures for purchasing and professional-service contracting to ensure Stockton’s compliance with state statutory requirements.

Stockton College presents annual internal Program Reviews to help assess academic programs, staffing, budgeting, goals and accomplishments. Strengths, weaknesses, opportunities and threats for each of the College’s divisions are reviewed and reported (Academic Affairs, Student Affairs, Institutional Advancement, and Administration and Finance) to the President, Board of Trustees, faculty, staff and students.

Stockton has policies and financial reports that illustrate how the College wisely manages the public’s money. The following links provide examples of how this information is recorded and maintained.

• 2007 Financial Audit Statement
• Debt Management Policy
• Investment Policy
• Internal Auditor: This group, which reports to the audit committee of the Board of Trustees, reviews the College’s internal controls, accounting procedures and risk management, which include all-encompassing power to investigate every area of the College.
• Operational Summary Report: At each meeting of the Board of Trustees, the President, Board members and Vice President for Administration and Finance receive a summary that outlines the revenue and expenses of the current fiscal year.

Stockton College is subject to review by outside agencies, such as Moody's and Fitch. Stockton is also reviewed every ten years by the Middle States Commission on Higher Education, a unit of the Middle States Association of Colleges and Schools, which accredits degree-granting colleges and universities in the Middle States region.  Additionally, a five-year Periodic Review Report is provided.

Stockton College was recently ranked among the nation’s top public colleges and universities in the annual survey of America’s Best Colleges. In the listing released by U.S. News and World Report, Stockton College was placed among the Best Universities/Master’s in the North. The College was also named among the best northeastern colleges by the Princeton Review.

At The Richard Stockton College of New Jersey, we are accountable.

President Dr. Herman J. Saatkamp, Jr.