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Internal audits find generally effective controls; PFIA report flags reporting discrepancies
Summary
Two required audits presented to the board found generally effective controls for procurement and public-funds investment reporting but identified opportunities to improve digital tracking and QA/QC of investment statements.
Staff presented two required audits at the Feb. 21 meeting: a fiscal-year 2025 internal procurement competitive solicitation audit and a Public Funds Investment Act (PFIA) audit.
Auditor Miss Williams reported that the procurement audit (report 25-0001; scope Sept. 1, 2022'May 31, 2024) found the agency generally effective in solicitation, evaluation and compliance with state procurement rules. The auditors recommended two opportunities for improvement: use of a reporting dashboard to track procurement metrics and enhancement of the…
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