Audit of. G-Star School of the Arts For Motion Pictures and Television

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Audit of. G-Star School of the Arts For Motion Pictures and Television"

Transcription

1 Audit of G-Star School of the Arts For Motion Pictures and Television September 14, 2007 Report

2 Audit of G-Star School of the Arts for Motion Pictures and Television Table of Contents PURPOSE AND AUTHORITY 1 Page SCOPE AND METHODOLOGY 1 BACKGROUND 2 CONCLUSIONS 1. Use of Public Funds and Resources 3 2. Poor Record Keeping 6 3. Tenant Did Not Undergo Required Criminal Background Screening 9 4. School Maintained Required Insurance Coverages 10 APPENDICES A. Management Response Dated June 15, B. Management Response Received on September 5,

3 THE SCHOOL DISTRICT OF LUNG CHIU, CPA ARTHUR C. JOHNSON, Ph.D. PALM BEACH COUNTY, FLORIDA DISTRICT AUDITOR SUPERINTENDENT OFFICE OF THE DISTRICT AUDITOR 3346 FOREST HILL BLVD., B-302 WEST PALM BEACH, FL (561) FAX: (561) M E M O R A N D U M TO: FROM: Honorable Chair and Members of the School Board Arthur C. Johnson, Ph.D., Superintendent of Schools Chair and Members of Audit Committee Lung Chiu, CPA, District Auditor DATE: September 14, 2007 SUBJECT: Audit of G-Star School of the Arts for Motion Pictures and Television PURPOSE AND AUTHORITY In response to the request of the Charter Schools and Accounting Departments, we have audited the G-Star School of the Arts for Motion Pictures and Television (G-Star School) for the period July 1, 2005, through February 2, The primary objectives of the audit were to: (1) Determine whether expenditures were properly accounted for, and recorded. (2) Determine if revenues were recorded and deposited. (3) Determine if record keeping and the system of internal controls were adequate. (4) Determine compliance with personnel and payroll requirements. (5) Determine if fixed assets were properly tagged and accounted for. (6) Determine if the required criminal background screening of vendors and tenants was performed. (7) Determine compliance with provisions of the Charter Agreement. SCOPE AND METHODOLOGY The audit was performed in accordance with Government Auditing Standards by Robert Bliss, CIA, from February 1, 2007, through March 14, 2007, and included: 1

4 Reviewing the school s Charter Agreement, lease agreements for the use of school facilities, and other written contracts. Reviewing financial documentation including budgets and financial statements. Examining the school s general ledger, bank statements, and bank reconciliations. Reviewing cash receipts and cash disbursement records. Reviewing payroll reports and personnel records. Reviewing minutes of meetings of the charter school s Governing Board. Reviewing applicable Florida Statutory Requirements. Reviewing inventories of fixed assets. Interviewing staff of the charter school and School District. Draft findings were sent to the school s Governing Board, and the School District s Department of Charter Schools and Accounting Services Department for review and comments. Management responses are included in the Appendices. We appreciate the courtesy and cooperation extended to us by District and school staff during the audit. The final draft report was presented to the Audit Committee at its September 14, 2007, meeting. BACKGROUND Students in the Arts TV/G-Star TV, Inc. is a Florida not-for-profit corporation organized to operate the G-Star School. The school is a tax exempt organization under 501(c) (3) of the Internal Revenue Code. On April 18, 2002, the School District entered into a Charter School Charter with the school for a term of five years commencing July 1, 2002, and ending June 30, The stated mission of the charter school includes encouraging students to explore new career opportunities through the expertise they develop in writing, directing, producing, and starring in TV programs and filmmaking. G-Star attempts to provide students with hands on actual experience with professional media entities in order to fulfill the school s mission. As of February 2007, 670 students were enrolled in 9 th through 12 th grades. For the Fiscal Year Ended June 30, 2006, the school s general fund reported $3,623,526 in total revenue and $3,329,997 in total expenditures, with an excess of revenues over expenditures of $293,529. The school was accredited by the Southern Association of Colleges and Schools Council on Accreditation and School Improvement, and the Commission on International and Trans-Regional Accreditation for

5 CONCLUSIONS 1. Uses of Public Funds and Resources Our review of a sample of school expenditures revealed the following: Caribbean Cruise for students, parents, staff, and others paid for by public funds. The school expended over $17,000 for 40 persons, including approximately 22 students, two parents (chaperons), three teachers, the school founder, and 12 other individuals to go on a four-day Western Caribbean Carnival Cruise to Key West and Cozumel on December 1, through December 5, The full price of the cruise fares were paid for by the school with public funds. Cruise fares ranged from $332 per person for a shared inside stateroom to $1,323 for one person to occupy a suite with private balcony. Additionally, the school paid for expenses incurred during the cruise for purchases made in the ship s Café bar, Pool bar, and the Bar and Grille, and cruise gratuities for individuals totaling approximately $1,000. In addition, $300 was withdrawn from an Automated Teller Machine on the ship and there was no documentation for the related expenditure. The cruise was a fundraising event sponsored for the benefit of a local film industry advocating group. According to school management, the cruise expenses were incurred to provide students with hands-on educational opportunity to participate in a professional media event. On September 29, 2006, the school received $3,457 from the independent company as reimbursement for the trip for the other individuals. The reimbursement amount was based on an estimated average cost of 10 persons. The school has not provided documentation that demonstrated the reimbursement amount fully compensated the school for the expenses incurred concerning the passengers for whom the school paid. It should be noted that an account receivable related to this event was not recorded on the school s financial records, and the partial reimbursement was received more than one year after the school incurred the expenses. Management Response dated June 15, 2007: Any funds expended by G-Star were for educational purposes consistent with the mission and goal of the school and consistent with public policy. Any funds that were advanced for the benefit of the producer have been reimbursed by the producer. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: In our Policy & Procedures, we have corrected our procedure so that we will not use public funds to pay for another entity's expenses and then be reimbursed; and that the account receivables are recorded properly. (See Appendix B for full Management Response). 3

6 Governing Board awarded the Founder a $150,000 Bonus On December 19, 2005, the school s Governing Board awarded the school founder $150,000 for his role in securing a $4,955,000 government issued bond as financing for the school. According to the minutes of the meeting, the $150,000 was to be paid to the founder equally over the following three years. However, the founder indicated that he has not received any of the award. The $150,000 awarded the founder was not disclosed or recorded on any of the school s financial records. However, it was reflected in the minutes of a Governing Board meeting. As a result, the charter school s financial statements for the year ending June 30, 2006, might contain inaccuracies. The District Auditor s Office contacted the school s independent auditors to notify them of the potentially undisclosed $150,000 debt, as well as other issues identified in this report. Management Response dated June 15, 2007: The school founder is the Chief Executive Officer and Chief Financial Officer of G-Star. He provided significant time and efforts in excess of the usual course of business in obtaining bond financing for the purchase of real property and capital expenditures for the school. The failure to disclose this contingent liability was an accounting error. At this point in time, the founder is due and owing in back wages of approximately $140,923. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: (As indicated in a letter to the school from its CPA firm.) This oversight may have occurred since you made a distinction between bonus and wages being different and did not realize that the bonus which the Board granted you should have been recorded in the same back wages account as a liability to G-Star School of the Arts and an amount due to you. (See Appendix B for full Management Response). Free Use of Facilities by For-Profit Businesses The school offers free use of its studios, office space, workshops, and equipment to forprofit film production companies. According to school staff, this is done to attract companies to the school so that students can observe operations, and audition for roles. According to the Section 30.0 F. of the Charter, the school is prohibited from using any property, goods, or services purchased or leased by public funds for the private benefit of any person or entity. Additionally, providing public facilities and equipment to private for-profit companies at no charge may not serve public purpose nor be in taxpayers best interest. Supplies and Two-Year Free Use of a Building for a Private For-Profit Company. The school purchased $1,340 worth of supplies for a private for-profit film school. In return, the film school issued a check payable to the school as reimbursement. The word 4

7 Donation was written in the memo area of the company s check. The school recorded the reimbursement as a donation and deposited the check in the fundraiser bank account. The charter school also provided a two-year lease to this private for-profit film school at no charge, including free utilities. Also, this is the same company for which the school paid the cruises fares of independent movie production personnel as previously mentioned in this report. Management Response dated June 15, 2007: Any supplies that were purchased for the private for-profit film school were reimbursed to G-Star. This again is a record keeping issue and a recording error which is not material. This error has been corrected and procedures are now in place to insure that in no longer happens. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: This error has been corrected and the money has been deposited in the proper account. (See Appendix B for full Management Response). $2,700 Paid to Contractor. On February 2, 2007, the school issued a check to an independent contractor, who was also an employee of the school, without supporting documentation for disbursement. Bookkeeping staff issued the check at the direction of the school founder. The school initially recorded this expenditure as a bonus for the independent contractor. As stated by staff, the payment was to assist a staff member relocating from a house owned by the school. The word moving was noted on the check stub. Upon our further questioning of this expenditure, this transaction on financial records was later amended from bonus to labor. On February 27, 2007, the school provided us with an undated invoice which indicated that the school was billed $2,700 for renovation work on the house performed by the contractor. However, it appeared that some of the labor charges on the invoice were previously billed to, and paid for, by the school through prior invoices. On February 27, 2007, the school provided us with a newly created Check Request Form dated February 2, 2007; and on February 28, 2007, we were provided with an Amendment to the Board Meeting Minutes of January 9, 2007, that authorized the expenditure in question. Apparently, the Amendment to the Board Meeting Minutes was created after the check was written. Also, the Amendment to the Board Meeting Minutes did not appear to be officially accepted at the following meeting of the Governing Board. The date of adoption of the Amendment is unknown at this time as the date of official adoption has not been provided. School monies should be used to advance education of students, and not be used to purchase 1) cruises for staff, parents (chaperones), or persons unaffiliated with the school, 2) supplies and utility costs of other business entities, or 3) to make questionable payments to independent contractors. 5

8 Management Response dated June 15, 2007: This again is a bookkeeping issue which has been corrected through changes and policies to insure it no longer happens. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: The error has been corrected. (See Appendix B for full Management Response). 2. Poor Record Keeping Internal Controls The school had no written accounting policies and procedures; check requisitions were not consistently utilized; receipts or invoices are not always maintained; dual signatures on checks are not always required; Governing Board approval was not required on large expenditures on contracts; and key duties of the school founder were not adequately segregated. More specifically, the school founder had authority to order, receive, approve and issue payment for goods and services. Insufficient internal controls limit the school s ability to safeguard assets and increases the risk that errors or fraud, should they occur, may not be detected on a timely basis. Section 21.0 B. of the Charter requires the school to establish and implement accounting and reporting policies and procedures for maintaining complete records of all receipts and expenditures. Adherence to written policies and procedures should help detect and reduce irregularities in transactions and help ensure public monies are safeguarded. Most importantly, the Governing Board should ensure that effective internal controls are implemented. Management Response dated June 15, 2007: Additional controls have been implemented to address the comments raised. There now exists a written and extensive accounting policy and procedure manual which addresses all of the record keeping issues. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: Issues have been corrected. (See Appendix B for full Management Response). School Founder Overpaid in Error As of December 31, 2005, the school s General Ledger reported that the founder was owed $55,277 in back wages that were earned in prior years but not paid. As of December 31, 2006, the General Ledger reported that $39,353 of the $55,277 was paid during 2006, and a balance of $15, was still owed the founder. It appeared that the General Ledger account balances however, were incorrect; and that the school founder was apparently overpaid by $9,076. 6

9 This error appears to have resulted from a $25,000 payment made to the founder in January, 2006, but the transaction was not recorded in the General Ledger. As a result, the payable balance due the school founder was overstated by $25,000. As of February 28, 2007, the school founder received $9,076 more than he was due. The school should adjust the $25,000 recording error, and the school founder should reimburse the school the $9,076 overpayment he received. Additionally, the school founder is being paid an annual salary of $114,000, which is $3,000 more than the $111,000 salary stipulated in his employment agreement. Management Response dated June 15, 2007: The founder has not been overpaid, and in fact is due and owing back wages in the amount of $140,923.51(i.e. the bonus) as of March 13, (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: All bookkeeping errors in this area have been corrected. (See Appendix B for full Management Response). Incorrect IRS Form 1099 Issued to Independent Contractor A contractor who was also a parent of a student was hired to install a paging system based on a written quote of $6,760, plus labor amount. After the contracted work was complete, and after continuous un-contracted upgrades to the system were made, the school paid the contractor approximately $23,000. Our review of the contractor s IRS Form 1099-Misc. for 2006 tax year revealed that only $1, in compensation was reported. Due to the substantial discrepancy between the amount reported on the Form 1099 and the amount paid to the contractor, we requested that the school re-compute the reported compensation amount to ensure it was accurate. Subsequently, the school responded to our request in writing, inferring that the reported compensation amount was correct. We then suggested the school obtain advice on this matter from the school s bookkeeping service provider who was a certified public accountant. The school subsequently determined that $4,715 of the $22,688 paid to the contractor during tax year 2006 was for labor, and that a corrected Form 1099 would be issued. Management Response Received on September 5, 2007: G-Star is now doing this as a contractual procedure. (See Appendix B for full Management Response). Fixed Assets Not Adequately Tagged or Recorded The school s fixed asset inventory system needs substantial improvement. The Fixed Asset Inventory Forms do not contain the needed information to identify and locate individual assets. The school does not have a procedure that ensures all newly acquired assets are accounted for, and there are no periodic physical inventories. 7

10 Staff from the School District s Capital Assets was requested to perform a fixed asset inventory for the charter school. The inventory, taken on March 19, 2007, identified a number of assets, totaling approximately $100,000 in value, listed on the school s Fixed Asset Inventory Form but could not be located. The inventory also found some assets that existed but were not listed in the Fixed Asset Inventory Form. Tagging and recording assets is a basic control to safeguard property and equipment by providing a method to identify, inventory, and locate physical assets. All property and equipment owned by the school should be tagged, Fixed Asset Inventory Forms should be periodically updated when assets are acquired or disposed of, and periodic physical inventories should be performed. Discrepancies should be investigated and disposed properly. Management Response dated June 15, 2007: G-Star spent hours accounting for these items which all have been accounted for except for a computer and monitor which may have been purchased four years ago. (See Appendix A for full Management Response.) Note: As stated by the School during the September 10, 2007, meeting, most inventory discrepancies have been addressed. We will perform an updated inventory of the school, and the results will be released as a subsequent event report. Use of Facilities without Lease Agreements. The school allowed two teachers to operate a for-profit summer camp at the school without (1) charging them a fee, (2) a written lease agreement, and (3) without insurance coverage. There was no written agreement for one tenant who utilized school facilities for several months. The school allowed one staff to rent a house owned by the school for at least one month without a written lease agreement. Management Response dated June 15, 2007: The use of facilities is a policy matter which is central to the purpose, objective, and mission of the school. Any bookkeeping areas relative to record keeping criticisms have been corrected and all accounting procedures have been entered into the School Accounting Policy and Procedure Manual to insure this error will not be repeated in the future. The teachers who operate a summer camp provide a valuable recruiting service for the school, and G-Star maintains proper insurance coverage through its insurance carrier. If there are additional requirements, G-Star will certainly comply. All tenants in the future shall maintain a written contract. As to the rental of a house, this is corrected and there is no tenant currently in the premises. In the future, policies and procedures will require any 8

11 occupancy be documented in a written lease. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: G-Starr will provide a contract for this camp in the future. Errors have been corrected. (See Appendix B for full Management Response). Inadequate Backup Documentation Maintained The school failed to provide 5 of 60 (or 8%) requested invoices during the audit. Thus, we could not ascertain if these expenditures were appropriate uses of public funds. Additionally, 7 of 56, (or 12.5%) invoices reviewed did not contain sufficient detail for expenditures such as a description of the item or service purchased, the unit price, or the transaction date. Also, the school was initially unable to locate 6 of 60 (or 10%) of the requested invoices, but subsequently was able to obtain copies of the invoices from vendors. We noted two instances where bookkeeping staff issued payments at verbal direction of the school founder without having any backup documentation to support the expenditure. Both checks were made payable to individuals, one for $2,700 and another for $3,000. Section 21.0 B. of the school s Charter, as well as Generally Accepted Accounting Principles require the school to maintain complete records of all receipts and expenditures. Management Response dated June 15, 2007: This again goes to record keeping requirements. Features have been modified to insure compliance with standards. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: Errors have been corrected. (See Appendix B for full Management Response). 3. Tenant Did Not Undergo Required Criminal Background Screening One tenant did not undergo the required fingerprinting and criminal background screening before they were allowed to lease a room on campus. After we brought this matter to the school s attention, the tenant was appropriately fingerprinted, screened, and supplied a vendor badge by the School District s Police Department. It should be noted that the school does not require background screening of production company personnel that temporarily utilizes the school s studio facilities. According the school founder, access to these areas is restricted during productions, and students are required to complete a temporary learning elsewhere slip when entering the restricted areas of campus. 9

12 Florida Statute requires background screening for certain non-instructional employees and contractual personnel who are permitted access on school grounds when students are present or who have direct contact with students. Contractual personnel include any vendor, individual, or entity under contract with the school. Contracting with individuals without going thru required criminal background checks could jeopardize the safety and welfare of students. The school should ensure all persons with direct access to students are fingerprinted as required. The School District s Charter School Department should ensure that the school complies with related Florida Statute and Department of Education requirements. Management Response dated June 15, 2007: This procedure has been corrected to comply with the Jessica Lunsford Act to insure that all properly classified persons meet the requirements by statute. (See Appendix A for full Management Response.) Management Response Received on September 5, 2007: That tenant's contract was terminated and he is no longer on the premises. G-Star will have all film company personnel background checked in accordance with the volunteer/mentor procedure. (See Appendix B for full Management Response). 4. School Maintained Required Insurance Coverages Section 26. I. of the Charter requires the school to maintain the following minimum insurance coverages: General Liability: $1,000,000 per occurrence. Property: no less than 100% replacement value Automobile: $1,000,000 per occurrence. School Leader s Errors and Omissions Liability: $1,000,000 per occurrence. Fidelity/Dishonesty/Liability: $500,000 Worker s Compensation: Minimum Statutory limits. A review of the school s certificates of insurance revealed that the minimum required insurance coverages were being maintained, however, the School District was not named as an additional insured as required by Section 26.0 I.7. of the Charter. The Accounting Services Department should ensure the School District is named as an additional insured on all the school s insurance policies. Management Response dated June 15, 2007: G-Star has amended the insurance certificates to show the School Board as an additional insured. (See Appendix A for full Management Response.) End of Report 10

13 Appendix A Management Response Dated June 15,

14 Appendix A Management Response Dated June 15,

15 Appendix A Management Response Dated June 15,

16 Appendix A Management Response Dated June 15,

17 Appendix A Management Response Dated June 15,

18 Appendix A Management Response Dated June 15,

19 Appendix A Management Response Dated June 15,

20 18

21 19

22 20

23 21

24 22

25 23

26 24

27 25

28 26

29 27

30 28

31 29

32 30

33 31

34 32

35 33

36 34

37 35

38 36

39 37

40 38

41 39

42 40

43 41

44 42

45 43

Review of. Freedom Shores Elementary Parent-Teacher Association's Bank Accounts

Review of. Freedom Shores Elementary Parent-Teacher Association's Bank Accounts Review of Freedom Shores Elementary Parent-Teacher Association's Bank Accounts December 7, 2007 Report 2007-17 Review of Freedom Shores Elementary Parent-Teacher Association's Bank Accounts Table of Contents

More information

CHAPTER 9 PRESCRIBED FORMS, TAXES, AND GENERAL INFORMATION

CHAPTER 9 PRESCRIBED FORMS, TAXES, AND GENERAL INFORMATION 9-1 PRESCRIBED FORMS CHAPTER 9 PRESCRIBED FORMS, TAXES, AND GENERAL INFORMATION The State Board of Accounts is charged by law with the responsibility of prescribing and installing a system of accounting

More information

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES FINANCIAL MANAGEMENT POLICIES AND PROCEDURES SAMPLE 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions,

More information

To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip)

To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip) Section B. Sample Audit Committee Certificate Date To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip) Subject: (Audit Year) Audit of (Church Name) We have inspected the statement

More information

SAMPLE FINANCIAL PROCEDURES MANUAL

SAMPLE FINANCIAL PROCEDURES MANUAL SAMPLE FINANCIAL PROCEDURES MANUAL Approved by (organization s) Board of Directors on (date) I. GENERAL 1. The Board of Directors formulates financial policies, delegates administration of the financial

More information

Contract Compliance Audit of. WHLS of Florida, Inc., for Fiscal Year 2006. January 19, 2007

Contract Compliance Audit of. WHLS of Florida, Inc., for Fiscal Year 2006. January 19, 2007 Contract Compliance Audit of WHLS of Florida, Inc., for Fiscal Year 2006 January 19, 2007 Report 2007-03 Contract Compliance Audit of WHLS of Florida, Inc., for Fiscal Year 2006 Table of Contents PURPOSE

More information

FIVE MANAGEMENT SYSTEM Policies and Procedures Checklist

FIVE MANAGEMENT SYSTEM Policies and Procedures Checklist FIVE MANAGEMENT SYSTEM Procedures Checklist Provided by: Navajo Nation Office of the Auditor General TABLE OF CONTENTS Introduction.........................................1 General Administrative Procedures...............................1

More information

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES FINANCIAL MANAGEMENT POLICIES AND PROCEDURES 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions, reporting

More information

Example Accounting/Financial Policies

Example Accounting/Financial Policies Example Accounting/Financial Policies TABLE OF CONTENTS INTERNAL CONTROLS... 2 ACCESS TO RECORDS BY MEMBERS... 3 ACCOUNTING COMPUTER FILE BACK-UP PROCEDURE... 3 ACCOUNTING METHOD... 3 AUDIT COMMITTEE...

More information

Missouri State Auditor March 2014 http://auditor.mo.gov Report No. 2014-016

Missouri State Auditor March 2014 http://auditor.mo.gov Report No. 2014-016 Thomas A. Schweich Missouri State Auditor FOLLOW-UP REPORT ON AUDIT FINDINGS City of Marshfield March 2014 Report No. 2014-016 http://auditor.mo.gov Follow-Up Report on Audit Findings Table of Contents

More information

FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS

FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS FINANCIAL MANAGEMENT GUIDE FOR NON-PROFIT ORGANIZATIONS NATIONAL ENDOWMENT FOR THE ARTS OFFICE OF INSPECTOR GENERAL SEPTEMBER 2008 Questions about this guide may be directed to the National Endowment for

More information

AUDITOR GENERAL WILLIAM O. MONROE, CPA

AUDITOR GENERAL WILLIAM O. MONROE, CPA AUDITOR GENERAL WILLIAM O. MONROE, CPA CITY OF WEEKI WACHEE, FLORIDA Follow-up on Operational Audit Report No. 2005-178 SUMMARY This report provides the results of our follow-up procedures for each of

More information

Western Climate Initiative, Inc. Accounting Policies and Procedures

Western Climate Initiative, Inc. Accounting Policies and Procedures Western Climate Initiative, Inc. Accounting Policies and Procedures Adopted May 8, 2013 WESTERN CLIMATE INITIATIVE, INC ACCOUNTING POLICIES AND PROCEDURES Adopted May 8, 2013 Table of Contents I. Introduction...

More information

Audit of. Workers Compensation Program

Audit of. Workers Compensation Program Audit of Workers Compensation Program October 23, 2014 Report #2014-06 MISSION STATEMENT The School Board of Palm Beach County is committed to providing a world class education with excellence and equity

More information

August 2014 Report No. 14-043

August 2014 Report No. 14-043 John Keel, CPA State Auditor A Report on On-site Audits of Residential Child Care Providers Report No. 14-043 A Report on On-site Audits of Residential Child Care Providers Overall Conclusion Three of

More information

INTERNAL AUDIT REPORT RALEIGH BUSINESS & TECHNOLOGY CENTER INC. CONTRACT AUDIT

INTERNAL AUDIT REPORT RALEIGH BUSINESS & TECHNOLOGY CENTER INC. CONTRACT AUDIT INTERNAL AUDIT REPORT RALEIGH BUSINESS & TECHNOLOGY CENTER INC. CONTRACT AUDIT June 2013 City of Raleigh Internal Audit Office Date: July 3, 2013 To: Perry James, Interim City Manager From: Martin Petherbridge,

More information

How to set up a people based. accounting system that makes your. small business work for you. Thomas G. Post. Certified Public Accountant 281-351-2688

How to set up a people based. accounting system that makes your. small business work for you. Thomas G. Post. Certified Public Accountant 281-351-2688 How to set up a people based accounting system that makes your small business work for you. By Thomas G. Post Certified Public Accountant 281-351-2688 www.texastaxman.com 1 Title How to set up a people

More information

Financial Information Kit

Financial Information Kit Financial Information Kit The purpose of this kit is to provide basic information on keeping financial records to facilitate compliance by registered charities with the requirements of the Canada Revenue

More information

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL

FLORIDA HIGH SCHOOL FOR ACCELERATED LEARNING - WEST PALM BEACH CAMPUS, INC. d/b/a QUANTUM HIGH SCHOOL LEARNING - WEST PALM BEACH CAMPUS, INC. Financial Statements with Independent Auditors Reports Thereon June 30, 2015 CONTENTS Page Management s Discussion and Analysis 1 6 Report of Independent Auditors

More information

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY 1. Purpose The Dixon Montessori Charter School Board of Directors ( Board ) has reviewed and adopted the following policies and procedures to ensure

More information

AUDITOR GENERAL DAVID W. MARTIN, CPA

AUDITOR GENERAL DAVID W. MARTIN, CPA AUDITOR GENERAL DAVID W. MARTIN, CPA AGENCY FOR HEALTH CARE ADMINISTRATION ADMINISTRATIVE ACTIVITIES Operational Audit SUMMARY This operational audit of the Agency for Health Care Administration (Agency)

More information

Community Ambulance Service District

Community Ambulance Service District STATUTORY AUDIT Community Ambulance Service District For the year ended June 30, 2014 Oklahoma State Auditor & Inspector Gary A. Jones, CPA, CFE This publication, issued by the Oklahoma State Auditor and

More information

Elements of Local School Accounting II

Elements of Local School Accounting II Elements of Local School Accounting II LSFM Certificate Program March 2015 Bryant Conference Center Tuscaloosa, Alabama 1 Elements of Local School Accounting II Board Policies and Procedures Accounting

More information

ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL

ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL (Name of Organization & logo) ACCOUNTING POLICIES AND PROCEDURES SAMPLE MANUAL (Date) Note: this sample manual is designed for nonprofit organizations with the following staff involved with accounting

More information

Southern Dallas County Fire Protection District

Southern Dallas County Fire Protection District Thomas A. Schweich Missouri State Auditor Southern Dallas County Fire Protection District August 2013 http://auditor.mo.gov Report No. 2013-062 Thomas A. Schweich Missouri State Auditor August 2013 CITIZENS

More information

BUSINESS PLAN. 2012-2013 Florida Virtual School Academy. 14. Facilities If the site is not secured.

BUSINESS PLAN. 2012-2013 Florida Virtual School Academy. 14. Facilities If the site is not secured. III. BUSINESS PLAN 14. Facilities If the site is not secured. F. Explain the school s facility needs, including desired location, size, and layout of space. The financial plan for the proposed school should

More information

August 2008 Report No. 08-046

August 2008 Report No. 08-046 John Keel, CPA State Auditor A Report on On-site Audits of Residential Child Care Providers Report No. 08-046 A Report on On-site Audits of Residential Child Care Providers Overall Conclusion Three of

More information

AN INTRODUCTION TO FINANCIAL MANAGEMENT FOR GRANT RECIPIENTS

AN INTRODUCTION TO FINANCIAL MANAGEMENT FOR GRANT RECIPIENTS AN INTRODUCTION TO FINANCIAL MANAGEMENT FOR GRANT RECIPIENTS National Historical Publications and Records Commission National Archives www.archives.gov/nhprc June 17, 2015 Table of Contents USE OF THE

More information

Checks and Balances Internal Controls. West Virginia State Auditor s Office Chief Inspector Division

Checks and Balances Internal Controls. West Virginia State Auditor s Office Chief Inspector Division Checks and Balances Internal Controls West Virginia State Auditor s Office Chief Inspector Division POP QUIZ Internal Controls Internal Controls The auditor will test the effectiveness of your internal

More information

August 2012 Report No. 12-048

August 2012 Report No. 12-048 John Keel, CPA State Auditor An Audit Report on The Texas Windstorm Insurance Association Report No. 12-048 An Audit Report on The Texas Windstorm Insurance Association Overall Conclusion The Texas Windstorm

More information

CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES

CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES NOT-FOR-PROFIT VENDOR REVIEWS MAYORS OFFICE OF CONTRACT SERVICES 1) Not-for-profit organization has effective and dynamic governance structure a) At least

More information

AUDIT REVIEW CHECKLIST AND WORKSHEET

AUDIT REVIEW CHECKLIST AND WORKSHEET 1 AUDIT REVIEW CHECKLIST AND WORKSHEET Audit review date scheduled Part A: (to be done within first quarter of year) Audit review date completed Part A: Amount of time taken for Part A: NOTE: Part A uses

More information

5. The administration of the school shall decide how to use student-generated funds to benefit the student body.

5. The administration of the school shall decide how to use student-generated funds to benefit the student body. SHELBY COUNTY SCHOOLS DIVISION OF INTERNAL AUDIT (DIA) QUICK REFERENCE GUIDE FOR PRINCIPALS The principal of each school shall have the duty of implementing and following the regulations, standards and

More information

FINANCE PROCEDURES 26-1

FINANCE PROCEDURES 26-1 FINANCE PROCEDURES 26-1 SECTION 26: FINANCE PROCEDURES TABE OF CONTENTS PAYMENT PROCEDURES 1. -Payment Authorization Page 26-3 2. -Payment for Orders Page 26-3 3. -Payment Limits Page 26-4 4. -Payment

More information

Accounting Policies and Procedures Manual

Accounting Policies and Procedures Manual Accounting Policies and Procedures Manual Kansas Association of Local Health Department October 28, 2013 Page 2 of 10 Contents I. Introduction... 4 II. Division of Responsibilities... 4 Board of Directors...

More information

Detroit Public Schools Office of the Auditor General

Detroit Public Schools Office of the Auditor General Detroit Public Schools Office of the Auditor General OF School Year 2008-09 REPORT NO: 09-174 REPORT DATE: June 30, 2009 Fisher Building 3011 West Grand Boulevard Suite 601A Detroit, Michigan 48202 Office:

More information

Training Presentation Audits & Federal Programs. Speaker: Doug Erwin, CPA

Training Presentation Audits & Federal Programs. Speaker: Doug Erwin, CPA Training Presentation Audits & Federal Programs Speaker: Doug Erwin, CPA Introduction CPA, licensed by the state of Georgia state board of accountancy Also licensed to conduct audits of financial statements

More information

Office of Inspector General The School District of Palm Beach County

Office of Inspector General The School District of Palm Beach County Office of Inspector General The School District of Palm Beach County Case No. 14-115 Pahokee Middle/Senior High School Agricultural Land Lease Monies TABLE OF CONTENTS PAGE EXECUTIVE SUMMARY i AUTHORITY

More information

Elementary School Student Activities Guidebook

Elementary School Student Activities Guidebook Elementary School Student Activities Guidebook Updated July 1, 2015 Table of Contents 1. Student Activities Funds.. 3 2. Definitions.... 3 3. Administration...3 4. Stewardship and Custodial Responsibility....4

More information

DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES

DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES DRAFT AGREEMENT WITH THE COUNTY FOR ACCOUNTING AND PAYROLL SERVICES Attachment 3 ATTACHMENT A FOR COUNTY USE ONLY New Change Cancel FAS Vendor Code epro Vendor Number SC Dept. A Contract Number epro Contract

More information

THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE

THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE THE HUD PARTNERSHIP CENTER S CAPACITY BUILDING WORKSHOP SERIES: FINANCIAL MANAGEMENT MODULE U.S. Department of Housing and Urban Development Center for Faith Based and Neighborhood Partnerships Financial

More information

The policy and procedural guidelines contained in this handbook are designed to:

The policy and procedural guidelines contained in this handbook are designed to: BASIC POLICY STATEMENT The Mikva Challenge is committed to responsible financial management. The entire organization including the board of directors, administrators, and staff will work together to make

More information

CLOSE TO HOME. Non Secure Placement Fiscal Manual. ACS Division of Financial Services Effective July 1, 2012

CLOSE TO HOME. Non Secure Placement Fiscal Manual. ACS Division of Financial Services Effective July 1, 2012 CLOSE TO HOME Non Secure Placement Fiscal Manual ACS Division of Financial Services Effective July 1, 2012 Mayor Michael R. Bloomberg Commissioner Ronald E. Richter CLOSE TO HOME - Non Secure Placement

More information

ACCRUAL BASIS ACCOUNTING

ACCRUAL BASIS ACCOUNTING CHART OF ACCOUNTS This chart of accounts is intended to give Career-Technical schools certified to operate in Virginia specific parameters for reporting financial information to SCHEV. It is recommended

More information

ACCOUNTING AND FINANCIAL REPORTING REGULATION MANUAL

ACCOUNTING AND FINANCIAL REPORTING REGULATION MANUAL ACCOUNTING AND FINANCIAL REPORTING REGULATION MANUAL STATE BOARD OF ACCOUNTS 302 West Washington Street Room E418 Indianapolis, Indiana 46204-2769 Issued January 2011 Revised April 2012 TABLE OF CONTENTS

More information

BOROUGH OF RIVERDALE ACCOUNTING MANUAL. The Borough has developed the following accounting policies and procedures:

BOROUGH OF RIVERDALE ACCOUNTING MANUAL. The Borough has developed the following accounting policies and procedures: BOROUGH OF RIVERDALE ACCOUNTING MANUAL The Accounting Manual documents and/or references the accounting processes and procedures of the Borough. The internal accounting control processes and procedures

More information

ENROLLMENT MANAGEMENT - ENLACE AUDIT OF STUDENT PAYROLL AND SELECTED EXPENSES

ENROLLMENT MANAGEMENT - ENLACE AUDIT OF STUDENT PAYROLL AND SELECTED EXPENSES ENROLLMENT MANAGEMENT - ENLACE AUDIT OF STUDENT PAYROLL AND SELECTED EXPENSES THE UNIVERSITY OF NEW MEXICO Report October 8, 2008 Raymond Sanchez, Chair John M. "Mel" Eaves, Vice Chair Carolyn Abeita Audit

More information

MEMORANDUM. Municipal Officials. From: Karen Horn, Director, Public Policy and Advocacy; and Abby Friedman, Director, Municipal Assistance Center

MEMORANDUM. Municipal Officials. From: Karen Horn, Director, Public Policy and Advocacy; and Abby Friedman, Director, Municipal Assistance Center MEMORANDUM To: Municipal Officials From: Karen Horn, Director, Public Policy and Advocacy; and Abby Friedman, Director, Municipal Assistance Center 89 Main Street, Suite 4 Montpelier, Vermont 05602-2948

More information

Chapter 1 Internal Accounts Overview

Chapter 1 Internal Accounts Overview Chapter 1 Internal Accounts Overview The District is required to follow the guidelines established by Rule 6A-1.001, Financial and Program Cost Accounting and Reporting for Florida Schools, Chapter 8 School

More information

Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE. of the ATTORNEY GENERAL.

Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE. of the ATTORNEY GENERAL. Internal Controls and Financial Accountability for Not-for-Profit Boards NEW YORK STATE OFFICE of the ATTORNEY GENERAL Charities Bureau 120 Broadway New York, NY 10271 (212) 416-8400 www.charitiesnys.com

More information

October 21, 2004. Ms. Joan A. Cusack Chairwoman NYS Crime Victims Board 845 Central Avenue, Room 107 Albany, New York 12206-1588

October 21, 2004. Ms. Joan A. Cusack Chairwoman NYS Crime Victims Board 845 Central Avenue, Room 107 Albany, New York 12206-1588 ALAN G. HEVESI COMPTROLLER 110 STATE STREET ALBANY, NEW YORK 12236 STATE OF NEW YORK OFFICE OF THE STATE COMPTROLLER October 21, 2004 Ms. Joan A. Cusack Chairwoman NYS Crime Victims Board 845 Central Avenue,

More information

5:31-7 Appendix B LOCAL AUTHORITIES - ACCOUNTING AND AUDITING IF ANY ARE NOT APPLICABLE, INSERT N/A AS YOUR ANSWER. FIRE DISTRICT YEAR UNDER AUDIT

5:31-7 Appendix B LOCAL AUTHORITIES - ACCOUNTING AND AUDITING IF ANY ARE NOT APPLICABLE, INSERT N/A AS YOUR ANSWER. FIRE DISTRICT YEAR UNDER AUDIT 5:31-7 Appendix B LOCAL AUTHORITIES - ACCOUNTING AND AUDITING AUDIT QUESTIONNAIRE FOR FIRE DISTRICT AUDITS EACH QUESTION MUST BE ANSWERED. PLEASE CIRCLE YES OR NO. IF ANY ARE NOT APPLICABLE, INSERT N/A

More information

Project Management Procedures

Project Management Procedures 1201 Main Street, Suite 1600 Columbia, South Carolina 29201 Project Management Procedures Start Up The grant becomes effective upon return of one copy of the grant award executed by the Chief Executive

More information

SAFEGUARDING ASSOCIATED STUDENT BODY FUNDS CHECKING ON BALANCES

SAFEGUARDING ASSOCIATED STUDENT BODY FUNDS CHECKING ON BALANCES 2005-2006 SANTA CLARA COUNTY CIVIL GRAND JURY REPORT SAFEGUARDING ASSOCIATED STUDENT BODY FUNDS CHECKING ON BALANCES Summary The 2005-2006 Santa Clara County Civil Grand Jury (Grand Jury) reviewed the

More information

Doral Performing Arts and Entertainment Academy (A charter school under Doral College, Inc.) Doral, Florida

Doral Performing Arts and Entertainment Academy (A charter school under Doral College, Inc.) Doral, Florida (A charter school under Doral College, Inc.) Doral, Florida Financial Statements and Independent Auditors' Report June 30, 2010 TABLE OF CONTENTS General Information....................................

More information

Archdiocese of Chicago Parish Self-Assessment Checklist

Archdiocese of Chicago Parish Self-Assessment Checklist Self-Assessment Questions 1. Are written Parish Finance Council guidelines and norms defined, documented, and available to all Parish Finance Council members? 2. Are Archdiocesan best practices communicated

More information

c. Name of Accounts. All accounts of the Association, shall be in the Association s name.

c. Name of Accounts. All accounts of the Association, shall be in the Association s name. Approved 09/09/13 Financial Policies & Procedures It is the purpose of these financial policies and procedures to provide guidance for all financial activities of Connecticut Junior Soccer Association

More information

Internal Controls Best Practices

Internal Controls Best Practices Internal Controls Best Practices This list includes the most common internal controls applied by small to medium sized businesses to their operations. It includes controls that apply to the processes most

More information

Appendix C: Examples of Common Accounting and Bookkeeping Procedures

Appendix C: Examples of Common Accounting and Bookkeeping Procedures Appendix C: Examples of Common Accounting and Bookkeeping Procedures In this Appendix the use of the term monthly means on a regular cycle, based on the needs of your district. Some of the sample accounting

More information

MICHIGAN AUDIT REPORT OFFICE OF THE AUDITOR GENERAL THOMAS H. MCTAVISH, C.P.A. AUDITOR GENERAL

MICHIGAN AUDIT REPORT OFFICE OF THE AUDITOR GENERAL THOMAS H. MCTAVISH, C.P.A. AUDITOR GENERAL MICHIGAN OFFICE OF THE AUDITOR GENERAL AUDIT REPORT THOMAS H. MCTAVISH, C.P.A. AUDITOR GENERAL The auditor general shall conduct post audits of financial transactions and accounts of the state and of all

More information

Chapter 8 Cash Disbursements and Checks

Chapter 8 Cash Disbursements and Checks Chapter 8 Cash Disbursements and Checks All disbursements from internal funds must be in the form of approved pre-numbered checks, with the exception of disbursements from change funds. Internal funds

More information

Oklahoma Workers Compensation Commission

Oklahoma Workers Compensation Commission OPERATIONAL AUDIT Oklahoma Workers Compensation Commission For the period February 1, 2014 through June 30, 2015 Oklahoma State Auditor & Inspector Gary A. Jones, CPA, CFE Audit Report of the Oklahoma

More information

July 2013 Report No. 13-042

July 2013 Report No. 13-042 John Keel, CPA State Auditor An Audit Report on Selected State Contracts at the Texas Education Agency Report No. 13-042 An Audit Report on Selected State Contracts at the Texas Education Agency Overall

More information

Bridgewater Housing Authority For the period October 1, 2008 through March 31, 2011

Bridgewater Housing Authority For the period October 1, 2008 through March 31, 2011 Official Audit Report-October 19, 2012 Bridgewater Housing Authority For the period October 1, 2008 through March 31, 2011 State House Room 230 Boston, MA 02133 auditor@sao.state.ma.us www.mass.gov/auditor

More information

Sample Action Plan for Charter School Closure 1

Sample Action Plan for Charter School Closure 1 Sample Action Plan for Charter School Closure 1 IMMEDIATE ACTIONS ACTION ITEM RESPONSIBILITY FOR COMPLETING ACTION COMPLETION DATE 2 STATUS 1 Create Charter School Closure: Frequently Asked Questions Document

More information

Financial Statements. August 31, 2013. Table of Contents

Financial Statements. August 31, 2013. Table of Contents Financial Statements August 31, 2013 Table of Contents Page Independent Auditors' Report 1 Statement of Operations 3 Statement of Changes in Net Assets 4 Statement of Financial Position 5 Statement of

More information

The Children's Museum of Memphis, Inc. Financial Statements June 30, 2015 and 2014

The Children's Museum of Memphis, Inc. Financial Statements June 30, 2015 and 2014 The Children's Museum of Memphis, Inc. Financial Statements June 30, 2015 and 2014 Table of Contents June 30, 2015 and 2014 Page Independent Auditor s Report... 3 Financial Statements Statements of Financial

More information

A Municipal Checklist for Internal Control-Part I, Cash Controls

A Municipal Checklist for Internal Control-Part I, Cash Controls A Municipal Checklist for Internal Control-Part I, Cash Controls I. General Internal Control & Banking 1 Is a professional (independent) audit done annually? 2 If you have an annual audit was the most

More information

LEGAL SERVICES CORPORATION OFFICE OF INSPECTOR GENERAL FINAL REPORT ON SELECTED INTERNAL CONTROLS RHODE ISLAND LEGAL SERVICES, INC.

LEGAL SERVICES CORPORATION OFFICE OF INSPECTOR GENERAL FINAL REPORT ON SELECTED INTERNAL CONTROLS RHODE ISLAND LEGAL SERVICES, INC. LEGAL SERVICES CORPORATION OFFICE OF INSPECTOR GENERAL FINAL REPORT ON SELECTED INTERNAL CONTROLS RHODE ISLAND LEGAL SERVICES, INC. RNO 140000 Report No. AU 16-05 March 2016 www.oig.lsc.gov TABLE OF CONTENTS

More information

Sayre School Accounting and Financial Policies and Procedures Manual

Sayre School Accounting and Financial Policies and Procedures Manual Sayre School Accounting and Financial Policies and Procedures Manual Approved May 15, 2003 Updated 2009 Updated Summer 2011 Access to Records It is the policy of the school to allow the public to inspect

More information

THE AUTISM SOCIETY OF COLORADO FINANCIAL STATEMENTS DECEMBER 31, 2012

THE AUTISM SOCIETY OF COLORADO FINANCIAL STATEMENTS DECEMBER 31, 2012 FINANCIAL STATEMENTS DECEMBER 31, 2012 C O N T E N T S Independent Auditor s Report 2-3 Statements of Financial Position 4 Statements of Activities 5-6 Statements of Cash Flows 7 Notes to Financial Statements

More information

Internal Controls over Cash for Small Nonprofits

Internal Controls over Cash for Small Nonprofits Internal Controls over Cash for Small Nonprofits Internal controls may be a sensitive issue in small nonprofit organizations. These organizations are built on the concepts of honesty, truthfulness, and

More information

Summary of Significant Revisions to the Accounting Procedures Manual For the Public Schools in the State of West Virginia

Summary of Significant Revisions to the Accounting Procedures Manual For the Public Schools in the State of West Virginia 1-3 Not Specifically Addressed School personnel do not have statutory authority to enter into contracts or obligate board funds. Schools are not separate legal entities. 1-3 Not Specifically Addressed

More information

BANK ACCOUNTS SUPPLEMENTAL INFORMATION School District of Okaloosa County. I. General Provisions

BANK ACCOUNTS SUPPLEMENTAL INFORMATION School District of Okaloosa County. I. General Provisions I. General Provisions A. Depositories in which internal funds are kept must be qualified public depositories, approved by the School Board, and are required to furnish the same type of security for deposits

More information

FLORIDA INTERNATIONAL ELEMENTARY ACADEMY

FLORIDA INTERNATIONAL ELEMENTARY ACADEMY FLORIDA INTERNATIONAL ELEMENTARY ACADEMY (A COMPONENT UNIT OF THE PUBLIC SCHOOL BOARD OF MIAMI-DADE COUNTY, FLORIDA) BASIC FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION BASIC FINANCIAL STATEMENTS AND

More information

CONTRACTOR S ACCOUNTING HANDBOOK

CONTRACTOR S ACCOUNTING HANDBOOK CONTRACTOR S ACCOUNTING HANDBOOK Table of Contents INTRODUCTION... 4 A. ACCOUNTING AND FINANCIAL REPORTING... 4 1.0 Basis of Accounting... 4 1.1 Cash Basis... 5 1.2 Accrual Basis... 5 1,3 Accruals... 5

More information

HOUSE BILL No. 2087. By Committee on Insurance 1-26. AN ACT enacting the Kansas professional employer organization licensing

HOUSE BILL No. 2087. By Committee on Insurance 1-26. AN ACT enacting the Kansas professional employer organization licensing Session of 00 HOUSE BILL No. 0 By Committee on Insurance - 0 0 AN ACT enacting the Kansas professional employer organization licensing act. Be it enacted by the Legislature of the State of Kansas: Section.

More information

10-1. Auditing Business Process. Objectives Understand the Auditing of the Enteties Business. Process

10-1. Auditing Business Process. Objectives Understand the Auditing of the Enteties Business. Process 10-1 Auditing Business Process Auditing Business Process Objectives Understand the Auditing of the Enteties Business Process Identify the types of transactions in different Business Process Asses Control

More information

Prince Hall Grand Chapter, Order of the Eastern Star, Rite of Adoption, Hawaii and its Jurisdictions Inc. Basic Audit Procedures for All Chapters

Prince Hall Grand Chapter, Order of the Eastern Star, Rite of Adoption, Hawaii and its Jurisdictions Inc. Basic Audit Procedures for All Chapters Prince Hall Grand Chapter, Order of the Eastern Star, Rite of Adoption, Hawaii and its Jurisdictions Inc. Basic Audit Procedures for All Chapters Audit Committee The Audit Committee requires three members

More information

Audit of Third Party Administration for Workers' Compensation

Audit of Third Party Administration for Workers' Compensation Audit of Third Party Administration for Workers' Compensation March 5, 2004 REPORT 2004-01 Audit of Third Party Administration for Worker's Compensation Table of Contents Page EXECUTIVE SUMMARY PURPOSE

More information

September 2008 Report No. 09-001. An Audit Report on Energy Savings Performance Contracts at Selected Agencies and Institutions of Higher Education

September 2008 Report No. 09-001. An Audit Report on Energy Savings Performance Contracts at Selected Agencies and Institutions of Higher Education John Keel, CPA State Auditor An Audit Report on Energy Savings Performance Contracts at Selected Agencies and Institutions of Higher Education Report No. 09-001 An Audit Report on Energy Savings Performance

More information

Table of Contents. 1 P a g e

Table of Contents. 1 P a g e Table of Contents Financial Regulations 2 General... 2 Accounting Procedures... 2 Internal Audit... 3 Budget Planning And Preparation... 3 Power To Incur Expenditure Within Approved Estimates... 4 Budget

More information

PALM BAY EDUCATION GROUP, INC. AND SCHOOLS

PALM BAY EDUCATION GROUP, INC. AND SCHOOLS PALM BAY EDUCATION GROUP, INC. AND SCHOOLS Your Financial Services Handbook By School Financial Services Introduction This handbook is to serve as a guide for various financial processes from your perspective.

More information

Audits of Automobile Body and Repair Shops

Audits of Automobile Body and Repair Shops Audits of Automobile Body and Repair Shops If you are in certain retail businesses, industry specific audit procedures may be performed by the IRS in addition to the standard procedures performed during

More information

Capital Area Council of Governments FY 2015 Cost Allocation Plan

Capital Area Council of Governments FY 2015 Cost Allocation Plan Capital Area Council of Governments FY 2015 Cost Allocation Plan The Capital Area Council of Governments uses the cost allocation method prescribed in OMB Circular A 87, Department of Health and Human

More information

Audit of. Boca Raton Middle School's Community School Program

Audit of. Boca Raton Middle School's Community School Program Audit of Boca Raton Middle School's Community School Program November 12,2004 Report 2004-15 MISSIONSTATEMENT The School Board of Palm Beach County is committed to excellence in education and preparation

More information

The Local Church Financial Review Guide

The Local Church Financial Review Guide The Local Church Financial Review Guide This booklet is given to you as a service of the Finance Office of the Pittsburgh Presbytery. We hope you will find it useful. If you have suggestions for making

More information

Fiscal Procedure Sequence page number

Fiscal Procedure Sequence page number Table of Contents Fiscal Procedure Sequence page number Treasurer Responsibilities Maintenance of General Ledger Financial Statements Financial Signature/Review Policy Insurance Protection Payroll Procedures

More information

RECITALS. B. MUSD has requested the BSA provide services to the Charter School, approved by MUSD Governing Board on January 6, 2001.

RECITALS. B. MUSD has requested the BSA provide services to the Charter School, approved by MUSD Governing Board on January 6, 2001. AGREEMENT FOR BUSINESS SERVICES BETWEEN THE VENTURA COUNTY SCHOOLS BUSINESS SERVICES AUTHORITY AND THE GOLDEN VALLEY CHARTER SCHOOL JULY 1, 2011 JUNE 30, 2012 This Agreement for Business Services is between

More information

CORPORATION FOR PUBLIC BROADCASTING OFFICE OF INSPECTOR GENERAL

CORPORATION FOR PUBLIC BROADCASTING OFFICE OF INSPECTOR GENERAL CORPORATION FOR PUBLIC BROADCASTING OFFICE OF INSPECTOR GENERAL AUDIT OF COMMUNITY SERVICE AND OTHER SELECTED GRANTS AT KENTUCKY AUTHORITY FOR EDUCATIONAL TELEVISION, INC., KET-TV, LEXINGTON, KENTUCKY

More information

Bridges of America - The Orlando Bridge, Inc. Orlando, Florida Financial Statements and Supplemental Information Year Ended June 30, 2011

Bridges of America - The Orlando Bridge, Inc. Orlando, Florida Financial Statements and Supplemental Information Year Ended June 30, 2011 Bridges of America - The Orlando Bridge, Inc. Orlando, Florida Financial Statements and Supplemental Information Year Ended June 30, 2011 Table of Contents Page Independent Auditor s Report 1 Financial

More information

NATIONAL ENERGY EDUCATION DEVELOPMENT PROJECT, INC. Financial Statements and Supplemental Information

NATIONAL ENERGY EDUCATION DEVELOPMENT PROJECT, INC. Financial Statements and Supplemental Information NATIONAL ENERGY EDUCATION DEVELOPMENT PROJECT, INC. Financial Statements and Supplemental Information (With Summarized Financial Information for the Year Ended December 31, 2011) and Report Thereon TABLE

More information

FINANCIAL CONTROLS POLICIES AND PROCEDURES FOR SMALL NONPROFIT ORGANIZATIONS

FINANCIAL CONTROLS POLICIES AND PROCEDURES FOR SMALL NONPROFIT ORGANIZATIONS By Cindy Cumfer NOTE: These policies and procedures are designed for small nonprofits that do not have an administrator with financial expertise. They are set up to divide the fiscal control roles between

More information

ASC Financial Policies Page i of 18 Originally Approved by BOT: November 2006 Revised: July 2014/Revisions approved by BOT

ASC Financial Policies Page i of 18 Originally Approved by BOT: November 2006 Revised: July 2014/Revisions approved by BOT All Souls Church, Unitarian Financial Policies and Procedures Table of Contents Page A. Fiscal Year and Accounting System 1 B. Cash Management and Control 1 1. Types of Accounts 1 2. Opening/Closing Accounts

More information

Office of Business and Finance

Office of Business and Finance OBJECTIVE To establish procedures for review and payment of invoices for goods and services purchased by the university. POLICY Applies to: Faculty, staff, students, visitors, vendors Issued: 08/2000 Revised:

More information

The accounting system and procedures detailed herein are based on IC 20-41-1-1 et seq..

The accounting system and procedures detailed herein are based on IC 20-41-1-1 et seq.. Revised 2010-1-1 CHAPTER 1 SCHOOL EXTRA-CURRICULAR ACCOUNT - OVERVIEW INTRODUCTION The accounting system and procedures detailed herein are based on IC 20-41-1-1 et seq.. Activity or activities as used

More information

CPA DUE DILIGENCE CHECKLIST FOR THE SALE AND ACQUISITION OF A BUSINESS

CPA DUE DILIGENCE CHECKLIST FOR THE SALE AND ACQUISITION OF A BUSINESS Law Offices of Robert A. Briskin, a Professional Corporation 1901 Avenue of the Stars, Suite 1700, Los Angeles, California 90067 Certified Specialist - Taxation Law Telephone (310) 201-0507 The State Bar

More information

CASH: CASH CONTROLS C-173 ACCOUNTING MANUAL Page 1. Contents. I. Introduction 2. II. General Description of Cash Operations 2

CASH: CASH CONTROLS C-173 ACCOUNTING MANUAL Page 1. Contents. I. Introduction 2. II. General Description of Cash Operations 2 ACCOUNTING MANUAL Page 1 CASH: CASH CONTROLS Contents I. Introduction 2 II. General Description of Cash Operations 2 III. Bank Account Controls 3 A. Regulations Governing Bank Accounts 3 B. Establishment

More information

CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION. Cortland, New York FINANCIAL REPORT. December 31, 2014 and 2013

CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION. Cortland, New York FINANCIAL REPORT. December 31, 2014 and 2013 CORTLAND COUNTY BUSINESS DEVELOPMENT CORPORATION Cortland, New York FINANCIAL REPORT December 31, 2014 and 2013 DECEMBER 31, 2014 and 2013 Independent Auditor s Report... 1-2 Statements of Financial Position...

More information