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Audit: Knox County internal school funds hold $16.8 million; auditors find 12 compliance exceptions, two new issues
Summary
External auditors reported more than $16.8 million held in school‑level internal funds, total revenues of about $25.2 million and 12 audit findings, including two new items: unauthorized credit‑card charges and supplemental salary payments.
An external auditor told the Knox County Board of Education on Jan. 9 that the annual audit of internal school funds found $16.8 million in cash at school accounts and 12 compliance findings, though the firm reported an overall improvement in the number of exceptions compared with last year.
Mr. Ted Hodes of Pew CPAs presented the 413‑page audit and said the firm would add a corrective action plan that mirrors schools’ management responses. “Total cash held in the internal school funds… was $16,800,000,” Hodes said. He said total revenues…
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