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Suffolk schools CFO details exhaustive annual audit process, internal controls and grant monitoring
Summary
CFO Wendy Forsman and finance staff walked the school board through the annual audit checklist, grant monitoring, payroll controls and reconciliations, emphasizing multi-layer reviews and state/federal examinations.
Suffolk Public Schools’ chief financial officer outlined the division’s audit process, grant monitoring and internal controls during the March 13 work session, telling the board that external auditors and federal monitors conduct exhaustive reviews of payroll, procurement, grants and other financial systems.
Wendy Forsman, chief financial officer, said audits begin in July with a preliminary file (prepared‑by‑client) and progress through reconciliations, payroll controls, procurement testing and multiple confirmations with outside vendors and agencies. "They test our payroll controls, they…
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