2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-001 Monitoring of Internal Controls. Criteria: Management should have a formal system in place to monitor the adequacy and effectiveness of the Board’s system of internal controls. Condition: Management does not have an adequate system in place to povide ongoing or separate evaluations of the effectiveness of the Board’s system of internal controls. The current system does not routinely monitor and test the controls in place and is performed by the Finance Department who reports to management rather than directly to the governing board. Cause: The Board does not have an employee independent of the Finance Department who is responsible for monitoring the system of internal controls and who reports directly to the governing Board. Effect: The Board’s system of internal controls may not be designed or operating effectively or as intended. Monitoring of internal controls is essential to provide reasonable assurance that controls will prevent or detect material misstatements in the financial statements in a timely manner. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-001). Recommendation: We recommend the Board of Education employ an individual to perform internal audit functions on a periodic basis. The individual should be from outside the finance department and would report directly to the Board Officials. Views of Responsible Officials and Planned Corrective Action: The Board acknowledges the value of an audit/monitoring function. However, as a result of budget constraints, the Board does not plan to implement an internal audit/monitoring function.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.
2023-002 Material Adjustments to the Financial Statements were Required. Criteria: Governmental entities are required to maintain a system of internal controls such that all material transactions are properly recorded as to amount, account, and period. Condition: Material adjustments to the Board’s financial statements were required. A material adjustment to the School Construction Fund was required as a deferred revenue was not recorded for the year ended June 30, 2022. As a result, revenue and fund balance were overstated. A material adjustment to the Student Activities Fund was required. The Board determined that as GASB 84, Fiduciary Activities was effective during the year ended June 30, 2022, the Student Activities Fund should have been reported as a Government Fund and not a Fiduciary Fund. These errors were corrected with a prior period adjustment in the June 30, 2023 financial statements. Cause: There was a lack of understanding of deferred revenues and GASB 84, Fiduciary Activities. Effect: Revenues and fund balance were overstated by a material amount in the School Construction Fund for the year ended June 30, 2022. Fund balance was overstated for the Fiduciary Fund and understated for the Government Funds for the year ended June 30, 2022. These errors were corrected on the June 30, 2023 financial statements with a prior period adjustment. If the adjustments were not made, the financial statements would be materially misstated and could have improperly influenced the users of the financial statements. Repeat Finding: This finding is a repeat of a finding in the prior year audit (Finding 2022-002). Recommendation: We recommend that staff be more cognizant of the governmental accounting principles for revenue recognition and stay abreast of changing governmental accounting standards. Views of Responsible Officials and Planned Corrective Action: The recognition of state revenue relative to the School Construction Fund projects has been an ongoing audit discussion topic. The Board acknowledges that they are responsible for the financial statements and now understand the application of state revenues and corresponding deferrals relative to school construction projects. The Board will remain cognizant of the application of governmental accounting principles for revenue recognition. The Board further acknowledges the expectation and need to stay abreast of changing governmental accounting standards such as GASB 84. This will be addressed by staff through ongoing staff development opportunities and continuing professional education outlets.