"Material Weakness Finding 2022-001 There is not sufficient segregation of duties within the District?s accounting department. Observation We found that all facets of accounting are currently centralized with one person which includes invoicing, cash receipts functions, posting of deposits, preparation of deposits, and all payable functions. Recommendation We recommend, to obtain basic segregation of duties, that the District update its current accounting functions to minimize the amount of accounting duties performed by one employee. "
Significant Deficiency Finding 2022-002 The District does not perform sufficient review of the accounting performed by the District?s external bookkeeper. Observation We identified several instances of misclassifications of income and expenses. During our inquiries we found that the District was not sufficiently reviewing the accounting performed by the District?s external bookkeeper to ensure that the District?s general ledger records and interim unaudited financial reports agreed to the source documentation prepared internally by District staff. Recommendation We recommend that the District implement a reconciliation process to compare the information recorded by the District?s bookkeeper to ensure that income and expenses recorded by the external bookkeeper reconcile to the source documentation provided by the District.
Significant Deficiency Finding 2022-003 The District had a bank account that was not reported in the District?s financial reporting. Observation We identified that the District had a bank statement for special events that had not been recorded by the District in its financial reporting. The balances and amounts of transactions as of and for the year ended June 30, 2022 were not material to the financial statements as a whole. Recommendation We recommend that the District provide all banking information to the District?s bookkeeper so that all such information can be correctly recorded with the District?s financial reporting.
"Material Weakness Finding 2022-001 There is not sufficient segregation of duties within the District?s accounting department. Observation We found that all facets of accounting are currently centralized with one person which includes invoicing, cash receipts functions, posting of deposits, preparation of deposits, and all payable functions. Recommendation We recommend, to obtain basic segregation of duties, that the District update its current accounting functions to minimize the amount of accounting duties performed by one employee. "
Significant Deficiency Finding 2022-002 The District does not perform sufficient review of the accounting performed by the District?s external bookkeeper. Observation We identified several instances of misclassifications of income and expenses. During our inquiries we found that the District was not sufficiently reviewing the accounting performed by the District?s external bookkeeper to ensure that the District?s general ledger records and interim unaudited financial reports agreed to the source documentation prepared internally by District staff. Recommendation We recommend that the District implement a reconciliation process to compare the information recorded by the District?s bookkeeper to ensure that income and expenses recorded by the external bookkeeper reconcile to the source documentation provided by the District.
Significant Deficiency Finding 2022-003 The District had a bank account that was not reported in the District?s financial reporting. Observation We identified that the District had a bank statement for special events that had not been recorded by the District in its financial reporting. The balances and amounts of transactions as of and for the year ended June 30, 2022 were not material to the financial statements as a whole. Recommendation We recommend that the District provide all banking information to the District?s bookkeeper so that all such information can be correctly recorded with the District?s financial reporting.
"Material Weakness Finding 2022-001 There is not sufficient segregation of duties within the District?s accounting department. Observation We found that all facets of accounting are currently centralized with one person which includes invoicing, cash receipts functions, posting of deposits, preparation of deposits, and all payable functions. Recommendation We recommend, to obtain basic segregation of duties, that the District update its current accounting functions to minimize the amount of accounting duties performed by one employee. "
Significant Deficiency Finding 2022-002 The District does not perform sufficient review of the accounting performed by the District?s external bookkeeper. Observation We identified several instances of misclassifications of income and expenses. During our inquiries we found that the District was not sufficiently reviewing the accounting performed by the District?s external bookkeeper to ensure that the District?s general ledger records and interim unaudited financial reports agreed to the source documentation prepared internally by District staff. Recommendation We recommend that the District implement a reconciliation process to compare the information recorded by the District?s bookkeeper to ensure that income and expenses recorded by the external bookkeeper reconcile to the source documentation provided by the District.
Significant Deficiency Finding 2022-003 The District had a bank account that was not reported in the District?s financial reporting. Observation We identified that the District had a bank statement for special events that had not been recorded by the District in its financial reporting. The balances and amounts of transactions as of and for the year ended June 30, 2022 were not material to the financial statements as a whole. Recommendation We recommend that the District provide all banking information to the District?s bookkeeper so that all such information can be correctly recorded with the District?s financial reporting.
"Material Weakness Finding 2022-001 There is not sufficient segregation of duties within the District?s accounting department. Observation We found that all facets of accounting are currently centralized with one person which includes invoicing, cash receipts functions, posting of deposits, preparation of deposits, and all payable functions. Recommendation We recommend, to obtain basic segregation of duties, that the District update its current accounting functions to minimize the amount of accounting duties performed by one employee. "
Significant Deficiency Finding 2022-002 The District does not perform sufficient review of the accounting performed by the District?s external bookkeeper. Observation We identified several instances of misclassifications of income and expenses. During our inquiries we found that the District was not sufficiently reviewing the accounting performed by the District?s external bookkeeper to ensure that the District?s general ledger records and interim unaudited financial reports agreed to the source documentation prepared internally by District staff. Recommendation We recommend that the District implement a reconciliation process to compare the information recorded by the District?s bookkeeper to ensure that income and expenses recorded by the external bookkeeper reconcile to the source documentation provided by the District.
Significant Deficiency Finding 2022-003 The District had a bank account that was not reported in the District?s financial reporting. Observation We identified that the District had a bank statement for special events that had not been recorded by the District in its financial reporting. The balances and amounts of transactions as of and for the year ended June 30, 2022 were not material to the financial statements as a whole. Recommendation We recommend that the District provide all banking information to the District?s bookkeeper so that all such information can be correctly recorded with the District?s financial reporting.