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District outlines corrective steps after auditor flags $45.5 million shortfall; outside firm to deliver internal-controls review
Summary
Board heard an update on seven Office of the State Auditor findings tied to a $45,500,000 deficit and a timeline from Malden & Jenkins for a forward-looking internal-controls review, with a draft expected Dec. 12 and final Dec. 30; the district will reimburse the state for the review.
The board received an update on audit findings that the Office of the State Auditor released in August and on a newly launched internal-controls review by outside consultants.
An unidentified presenter summarized the OSA—s rapid-response review, saying, "The audit found 7 findings, 1 additional assessment ... poor financial practices causing the $45,500,000 deficit." The presenter emphasized the OSA found "no fraud, no theft, no missing money, and no referrals for criminal investigation." The district has begun corrective actions including staffing reductions, more frequent budget reviews and reconciliations, and creation of contract and allotment repositories.
Dave Gerhoski, a partner…
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