Admin

20-56: School Activity Fund Audit

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P.O. Drawer 140, 100 Central Circle

Low Moor, VA  24457

540-863-1800          540-863-1804 fax

 

DATE:  September 16, 2019

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 schools’ activity fund and the division’s cafeteria fund. Robinson, Farmer, Cox Associates recently completed an audit of the aforementioned entities for the 2018-2019 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. Two of the five schools plus the division cafeteria operation received no recommendations or comments. For the three schools that did receive comments/recommendations (which were minor in nature), the findings were reviewed with the principals and bookkeepers, and written plans to address such were submitted to the director of finance. The results of the 2018-2019 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

SUPERINTENDENT’S

RECOMMENDATION

n/a

 

Attached:        School activity fund audit
                  Action plans from schools who received recommendations