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September 3, 2008

 

DiNapoli's Office Completes School Audit

New York State Comptroller Thomas P. DiNapoli today announced his office completed an audit of Mattituck-Cutchogue Union Free School District.

“My office’s audits of school districts, charter schools and BOCES help schools improve their financial management practices,” DiNapoli said. “These audits are tools for schools to make sure proper policies and procedures are in place to protect taxpayer dollars and provide students with the best possible education.”

Mattituck-Cutchogue Union Free School District – Internal Controls Over Selected Financial Activities (Suffolk County)
Auditors found that although the district had appropriate policies in place, the treasurer and deputy treasurer did not have separate signature disks and could place each other’s signatures on district checks. These officials also allowed staff to apply their signatures to checks without sufficient oversight. In addition, auditors learned the accounts payable clerk did not enter 14 cash receipts totaling approximately $8.7 million into the daily cash receipt log, as required by policy, and did not compare the log to bank deposits. Finally,16 wire transfers totaling $6.1 million were initiated and executed without proper authorization or independent review. District officials did not develop policies and procedures to provide the proper segregation of duties in the business office and there was no indication that the district implemented compensating controls.

Click here to view the audit above.

If you have any questions or would like a comment from the Comptroller’s office regarding any of the audits above, please call 518-474-4015.

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