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District risk assessment flags cash handling, HR and recordkeeping weaknesses; recommends policy changes
Summary
A district risk assessment presented to the audit meeting identified weaknesses across cafeteria cash controls, extracurricular activity accounting, human resources onboarding and purchasing; the auditors recommended policies, cross-training and improved timeliness for payroll and session notes.
An internal risk assessment presented at the Ithaca City School District meeting detailed multiple operational risks across finance, human resources, operations and special education and offered recommendations to reduce exposure.
The presenter said the risk assessment was completed in March and included a generic list of inherent risks and a functional-area chart comparing prior and current-year classifications. The audit team flagged issues ranging from unapproved startup funds in the child nutrition program to clubs with no financial activity remaining open and late entry of session notes that can affect special-education reimbursements.
Key findings included: startup cash amounts for the child nutrition program…
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