KDE Finance Officer Workshop 2015

KDE: Division of District Support 173 Districts – AFR – Annual Audit Report

Management Letter Points/Comments We find many extremes as far as auditor scrutiny: – Some districts had 0 Redbook findings/comments – I reviewed one district who had 120 Redbook findings!

Find a Balance Nobody is perfect – Always room for improvement Can be a teaching moment for those with issues

2013/2014 Findings Invoices dated before PO date Bookstores not using the inventory control sheet Students not signing the MRF Gift cards being purchased Teachers/sponsors not turning in money collected in a timely manner

Not obtaining liability insurance Not submitting an annual financial report and/or budget as required by the Redbook – Annual Financial Report due to the principal by July 15 for the previous year ended – Budget Worksheet due to the principal within first thirty days of the school year or within thirty days of the first transaction of the group External Support/Booster Organizations

Purchasing Operational Items Installing mailboxes Resealing the gym floor Gas to mow the lawn New baseball fence Lighting in the auditorium Software for curriculum Two-way radios

Cash Advances No receipts attached Receipts plus change not adding up to the advance amount

Staff Accounts Staff purchasing food with student generated funds

Transfers Transfer forms not signed by appropriate sponsor of the activity fund Transfer forms not containing an explanation describing the purpose of the transfer

Signatures Dual signatures not found on cancelled checks Vendor invoice missing a confirmation signature of person receiving the goods or service before payment is made Principal not signing bank statement before giving to bookkeeper