Created : September 07, 2013 at 05:25 AM
July 23, 2013
Status:
Open Agenda
Receive Internal Audit Report - Summary of Audit Activities for 2012-2013 and Proposed Audit Plan for the 2013-2014 Fiscal Year.
The Office of the Chief Auditor has completed a significant number of financial, operational, construction and compliance audits of the District. Our audit reports were aimed at enhancing the economical and efficient use of resources, safeguarding assets and assisting management in accomplishing their established goals and objectives.
We reported in the Summary of Audit Activities for the 2012-2013 fiscal year, the completed audits, reviews and trainings. We completed several construction audits, resulting in recommendations to improve internal controls and identified cost recoveries in excess of $1 million, as well as cost avoidance initiatives for the District. We performed operational audits of vendor contracts that identified questioned costs and non-compliance with contract terms that resulted in the District's seeking reimbursement and/recommendations for revisions to contract language and better contract management. In the area of Property and Inventory audits and Internal Fund audits, we continue to see a significant number of audits that are in compliance with all policies, procedures, rules and regulations. We provided significant assistance to management through participation in multiple committees throughout the District. In addition, we provided the Charter School Department with auditing resources in order to monitor financial conditions of the Charter Schools.
The Proposed Audit Plan includes required audits per State Statutes and School Board Policies, as well as operational audits of construction projects and reviews of various District departments.
This report will be presented to the Audit Committee at its June 20, 2013 meeting and to the School Board at its July 23, 2013 meeting.
The source of funds to perform the Internal Audit Report was the General Fund budget allocation for the Office of the Chief Auditor. There is no additional financial impact to the school district.
Requested Action
Receive Internal Audit Report - Summary of Audit Activities for 2012-2013 and Proposed Audit Plan for the 2013-2014 Fiscal Year.
Summary
The Office of the Chief Auditor has completed a significant number of financial, operational, construction and compliance audits of the District. Our audit reports were aimed at enhancing the economical and efficient use of resources, safeguarding assets and assisting management in accomplishing their established goals and objectives.
We reported in the Summary of Audit Activities for the 2012-2013 fiscal year, the completed audits, reviews and trainings. We completed several construction audits, resulting in recommendations to improve internal controls and identified cost recoveries in excess of $1 million, as well as cost avoidance initiatives for the District. We performed operational audits of vendor contracts that identified questioned costs and non-compliance with contract terms that resulted in the District's seeking reimbursement and/recommendations for revisions to contract language and better contract management. In the area of Property and Inventory audits and Internal Fund audits, we continue to see a significant number of audits that are in compliance with all policies, procedures, rules and regulations. We provided significant assistance to management through participation in multiple committees throughout the District. In addition, we provided the Charter School Department with auditing resources in order to monitor financial conditions of the Charter Schools.
The Proposed Audit Plan includes required audits per State Statutes and School Board Policies, as well as operational audits of construction projects and reviews of various District departments.
This report will be presented to the Audit Committee at its June 20, 2013 meeting and to the School Board at its July 23, 2013 meeting.
School Board Goals
| Goal 2: Continuous Improvement | ||
| Goal 3: Effective Communication |
Financial Impact
The source of funds to perform the Internal Audit Report was the General Fund budget allocation for the Office of the Chief Auditor. There is no additional financial impact to the school district.
Source of Additional Information
Patrick Reilly 754 321-2400
Associated File Attachments
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Audit Plan (Files) | |
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ExecutedARF (Files) |