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Audit Objective

Determine whether fixed assets were recorded and properly accounted for.

Key Findings

• The Board did not designate a property control manager.
• None of the 39 fixed assets valued at $242,673 were tagged as District property and 42 assets valued at $126,303 were not recorded on the inventory list.

Key Recommendations

• The Board should designate a property control manager.
• Ensure all fixed assets with values that exceed the established threshold have a tag affixed identifying them as District property.

District officials generally agreed with our recommendations and indicated they planned to initiate corrective action.