Purpose of Audit
The purpose of our audit was to determine whether the District properly recorded and accounted for fixed assets for the period July 1, 2015 through March 13, 2017.
The Elmsford Union Free School District is located in the Village of Elmsford in Westchester County. The District, which has approximately 955 students, is governed by a Board of Education. Budgeted appropriations for the 2016-17 fiscal year totaled approximately $33.5 million.
- The District does not have a comprehensive policy for identifying and recording fixed assets.
- Fixed assets were not tagged as District property for 26 items valued at $144,421.
- District inventory records of technology assets were inconsistent.
- Adopt a comprehensive policy that includes establishing threshold amounts for controlling inventory and procedures for maintaining fixed asset records.
- Ensure that all fixed assets with values that exceed the threshold have a tag affixed identifying them as District property.
- Review fixed asset records each year and ensure that they are accurate and up-to-date.