Determine whether fixed assets were recorded and accounted for properly.
- The Board did not approve the disposal of assets with a book value of $4,483.
- District officials did not maintain up-to-date disposal records.
- Ten of 25 assets (40 percent) totaling $43,330 were not traced to locations.
The Board should:
- Authorize asset disposals.
District officials should:
- Maintain accurate and up-to-date asset disposal records.
- Locate all the assets identified in this report.
- Ensure all fixed assets with values that exceed the established threshold have a tag affixed identifying them as District property.
District officials agreed with our findings and indicated they plan to initiate corrective action.