The Rural Center is committed to being a good steward of state funds. In a report released today, the Office of the State Auditor has identified opportunities for us to strengthen the way we monitor the performance of those who receive grants, and we are currently making improvements to address those issues. We have a long history of serving the people of rural North Carolina and welcome the opportunity to improve our operations
Below is the Rural Center's response to specific issues raised in the audit:
We follow all accepted accounting procedures and reinvest interest earning to support our efforts to serve rural North Carolina. Moving forward, we will ask the General Assembly to clarify how these earnings should be used.
We are refining our written policies and procedures to improve the way we manage and monitor grants. This will enable us to better document job creation and manage issues of noncompliance.
Executive salaries are regularly evaluated and compared with similar nonprofit organizations around the country. We will work with the N.C. Department of Commerce to determine an appropriate amount of state funding to be used for executive compensation. We also have modified accounting procedures to clarify the assignment of operating costs to the appropriate funding source.
Billy Ray Hall
July 17, 2013