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EPIC ONE ON ONE CHARTER SCHOOL board reviews forensic audit, directs policy and oversight changes
Summary
The board reviewed a forensic investigation by Carr, Riggs & Ingram that found systemic financial-control weaknesses but no fraud. Directors voted to direct legal staff to update the consent-agenda and finance policies and discussed creating an internal audit function to strengthen oversight.
The EPIC ONE ON ONE CHARTER SCHOOL board reviewed a forensic investigation of the district's finances and oversight and voted to direct legal staff to update key governance policies.
Dr. Ross, EPIC's superintendent, told the board that auditors from Carr, Riggs & Ingram found "no finding of misappropriation or no fraud that was identified" while identifying 15 audit findings. He said 12 of the 15 findings "are either in progress to be corrected or had been corrected" and that three remaining items would be addressed quickly. "The audit provides us as an organization a clear roadmap to rebuilding stronger," Ross said.
Why it matters: EPIC reported roughly $120 million in year-to-date revenue and a $19.5 million fund…
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