Finding Text
Reporting. The accounts used to record expenditures on the quarterly expenditure reports should match the general ledger accounts when the expenditures are recorded. It was noted that there was an inconsistency when comparing the general ledger to what was reported on the expenditure reports. There are no questioned costs. An item of $509.69 was reported as a capital outlay expense, but was recorded in the general ledger in a supplies account. It does not meet the $500 threshold for being reported as equipment in capital outlay. The District should have recorded this item as a supplies expenditure. An expenditure item of $19,100 was listed on the budget as a purchased service but was recorded in a supplies account. An item of $4,387 was reported as a purchased service, but recorded on the general ledger in a supplies account. The expenditures were not recorded/reported consistently between the two reports. A coding error was made when entering the expenditures into the general ledger.