School Internal Accounts Activity Funds Audit Report for Fiscal Year 2006-2007

In accordance with the District Audit Plan and State Board of Education Rule 6A-1.087(2), the District Auditing Office has audited the:

School Activity Funds for Fiscal year 2006-2007

Audits for the 234 school sites with internal accounts were conducted during 2007-2008 school year. In the opinion of the District Auditing Office, financial and operational management of the School Activity funds is satisfactory and generally in compliance with statutes, regulations, and School Board policies, with specific exceptions noted.

Summary of Results:

Exemplary audits - 86 school sites or 37%

Satisfactory audits - 138 school sites or 59%

Unsatisfactory audits - 10 school sites or 4%

Please note: Twenty seven school sites have received an exemplary rating for more than 5 consecutive years. School sites with unsatisfactory ratings submitted a corrective action plan to their Area Director. Additionally, increased training, peer mentoring, Area Director involvement and a review of personnel assignments were implemented. The majority of unsatisfactory ratings were related to new or inexperienced personnel.

To promote sound fiscal stewardship of public funds.

These audits are conducted as part of the District's Board-approved Annual Audit plan and are budgeted as part of the District Auditing Office's General Fund budget.

July 28, 2009