Financial Report

The independent certified public accounting firm of Clifton Larson Allen LLP of Oak Brook, Ill., audited the accompanying statements of financial position of Saint Xavier University as of June 30, 2013, and the related statements of activities and changes in net assets and cash flows for the year then ended.

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.

In a letter to the Saint Xavier Board of Trustees dated Sept. 11, 2013, the firm wrote that the 2013 financial statements “present fairly, in all material respects, the financial position of the University as of June 30, 2013 and 2012, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.”