P.O. Drawer 140, 100 Central Circle

Low Moor, VA24457

540-863-1800†††††††† 540-863-1804 fax

 

 

DATE:September 18, 2017

INFORMATION ITEM

 

SUBJECT

School Activity Fund Audit

RATIONALE

On an annual basis a certified public accounting firm is engaged to audit the financial records of each of our schoolsí activity fund and the divisionís cafeteria fund. Robinson, Farmer, Cox Associates recently completed an audit of the aforementioned entities for the 2016-2017 fiscal year and have submitted the final results of their audit. In the opinion of the auditors, the financial statements present fairly, in all material respects, the cash receipts, disbursements, and balances for the school activity and cafeteria funds. Three of the five schools plus the division cafeteria operation received no recommendations or comments. Two schools received minor recommendations, and each school has provided written plans to address these recommendations. The results of the 2016-2017 school activity and division cafeteria funds audit reaffirm our long-standing practice of sound financial management in these areas. Our staff is to be commended for their consistent success in managing these funds.

 

ESTIMATED COSTS

n/a

BUDGET CATEGORY

n/a

LEGAL REFERENCE

n/a

STAFF CONTACTS

Gene Kotulka and/or Keven Rice

SUPERINTENDENTíS

RECOMMENDATION

n/a

 

Attached - School Activity Fund audit

††††††††† †††††