2025-26 Audit and Reporting Guidelines Format Final- Harsha

Equitable Funding: The goal of a per-student funding level for community colleges midway between funding for K-12 students and regional public university students. In 2007, a bill was passed by the MS legislature and signed by the governor that would require mid-level funding for community and junior colleges; however, that funding level has not yet been achieved. Extension Center: An extension center is a permanent location, which offers a partial range of educational programs and services. An extension center may be solely academic, solely technical/vocational, or a combination of these types of curricula. An extension center is established for a specific, stated instructional mission. Library services and student support services are limited directly to serve the type and number of students. Facilities may be owned or leased by the community or junior college district. There may be one or more extension centers in a community or junior college district or none at all. “The number of fulltime faculty members must be adequate to provide effectiv e teaching, advising and scholarly or creative activity” ( SACSSACSCOC). There may be one or more extension centers in a community and junior college district or none at all. Fall Cohort: The group of students entering in the fall term established for tracking purposes. [For the IPEDS Graduation Rates component, this includes all students who enter the institution as full-time, first-time degree or certificate-seeking undergraduate students during the fall term of a given year.] FICE Code: a 6-digit identification code used to identify institutions that are accredited at the college level by an agency recognized by the U.S. Department of Education. Finding: the audit review result of non-compliance. Five-Year Rule: If a student previously attended your postsecondary institution (5 years or more prior) and has not subsequently enrolled at another postsecondary institution, your institution’s transcript will satisfy admission requirements for that student. FTE: Refers to full-time equivalent. For state reimbursement, this refers to full-time equivalent students and is defined as the total credit hours accumulated by Academic, Technical, and VocationalCareer students during the summer, fall and spring semesters divided by thirty (30).

Tab 03 – Definition of Terms and Acronyms

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Updated 10/01/2023