B11.01 - School Activity Fund Indebtedness for Fiscal Year End June 30, 2020, to be Carried Over into the Upcoming School Year (Auditing)

The Department of Education’s Financial and Program Cost Reporting for Florida Schools (The Red Book) Policy 8-2.7 requires that fiscal year end indebtedness be approved by the School Board.

As of June 30, 2020, the schools reported indebtedness to vendors in the amount of $326, detailed on the attached listing.  This indebtedness arises primarily due to the timing of vendor invoicing and the cessation of normal bookkeeping activity during the summer months.  As part of standard audit procedures, the District Auditing Office will verify that all indebtedness carried over into the new fiscal year is paid in a prompt manner and in accordance with School Board policies.

Results of Carried Over Indebtedness for prior Fiscal Years 

Fiscal Year End June 30, 2019 -    $153

Fiscal Year End June 30, 2018 -    $657

Fiscal Year End June 30, 2017 -    $520

All indebtedness reported last year has been paid and was reviewed for compliance with School Board policies.

* Continuously improve processes and systems

* Establish a strong foundation of financial stewardship

* Demonstrate "best practices" in all aspects of safety: student, employee, visitor, facility, transportation, and health

Approve School Activity Fund Indebtedness for Fiscal Year End June 30, 2020.

Manuel A. Ippolito, Manager, Auditing Services Department, manuel.ippolito@sdhc.k12.fl.us, (813) 272-4304

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