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Superintendent says district is implementing audit fixes as community funds and county forgiveness cut school debt
Summary
Superintendent Dr. Phipps told the board the district has implemented corrective actions after an Office of the State Auditor follow-up and reported fundraising and county forgiveness cut district-held debt to roughly $4.7 million (plus child nutrition loan obligations); the district will deliver a 120-day corrective-action update this month.
Superintendent Dr. Phipps told the Winston Salem Forsyth County Schools Board of Education on March 5 that the district has responded to an Office of the State Auditor follow-up report with process changes and is on track to restore financial stability.
"This is not a process that you start at some point and then you hit an ending point and say we've done what needed to be done and now we're finished," Phipps said, describing ongoing corrective work and new controls. He said staff now produce monthly budget-to-actual reports and are implementing the Tyler financial system to improve internal controls.
Phipps recapped relief and…
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