Issued Date
February 01, 2019
Audit Objective
Determine whether extra-classroom activity funds were adequately safeguarded and collections and disbursements were properly accounted for.
Key Findings
- Collections totaling $26,598 for 10 fundraising activities were not supported by adequate documentation.
- District employees did not submit any documentation to show how funds from 10 cash advances totaling $19,997 were spent.
- The central treasurer made seven disbursements totaling $14,189 without adequate supporting documentation.
Key Recommendations
- Ensure student treasurers maintain adequate documentation to support collections.
- Monitor the status of cash advances and prepare reconciliations to ensure funds spent are supported by adequate documentation and for appropriate purposes.
- Prepare check disbursements only after receiving proper authorization and supporting documentation.
District officials generally agreed with our recommendations and have initiated, or indicated they planned to initiate, corrective action.