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Audit committee reports largely resolved findings; district moves to new finance system July 1
Summary
The Riverhead Central School District audit committee said the Office of the State Comptroller review is complete with no missing-funds findings, submitted federal documentation for a $120,000 pre-K expenditure, and confirmed a July 1 go-live for the Envision finance system running in parallel with WinCap.
The Riverhead Central School District audit committee on June 10 reported that an Office of the State Comptroller review that had been ongoing for nearly a year is complete and that most audit concerns have been addressed.
The committee’s update matters because it affects the district’s financial controls, upcoming external audits and the planned switchover to a new finance management system ahead of the next fiscal year.
A board member summarizing the audit work said the OSC findings meeting was held April 23 and the final report is expected in late June or July; the committee reported no findings of missing funds or financial-management failures and said roughly 99% of identified issues have been addressed. The committee compared sample reports from other districts to set expectations for the final OSC report.
The committee confirmed external audit dates: pre-audit testing is scheduled for June 9–13 and the full external audit for August 11–15. The board heard that the district submitted documentation requested by the U.S. Department of Education related to a $120,000 expenditure for pre-K services (the department’s submission deadline was May 5) and that the district’s timely response cleared that federal review.
The district also reported progress on transitioning accounting data from WinCap to the new Envision finance system: WinCap data have been transferred to a secure on-site server and the district remains on track to put Envision into operation July 1. For several months the district will run WinCap and Envision in parallel to ensure a smooth year-end audit; staff training and leadership meetings are underway.
The committee noted an IRS penalty notice for nonfiling of W-2 data for 2021 and 2022; the second penalty has been waived and the district is awaiting confirmation that the first penalty was removed. The board said it will review auditor relationships next year, including the claims auditor, internal auditor, and external auditor.
Board members thanked finance staff for their work compiling documents and preparing for the system transition.
