Question
Oneida County, New York sponsors the Mowhawk Valley Community College (MVCC). Based on the following information from the county's financial statements for a previous year
Oneida County, New York sponsors the Mowhawk Valley Community College (MVCC). Based on the following information from the county's financial statements for a previous year (1) whether MVCC should be reported as a component unit of Onieda County and (2) if so, whether it should be blended or discretely reported. Give reasons for your answers.
MVCC is administered by a board of trustees consisting of ten voting members. Five are appointed by the Onieda county executive and confirmed by the Onieda Legislature, four by the governor of the state, and one student is elected by the student body . MVCC's budget is subject to the approval of the County Executive and the County Legislature, and the County provides substantial funding for MVCC's operations.
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