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District auditor briefs Timberlane board on risks, fund balance and reporting issues
Summary
Auditor Mike Campo presented the annual audit to the Timberlane board, citing control risks (journal entries, management override, QuickBooks use), noting a grants‑timing issue of about $210,000, and recommending a 10–15% fund balance target and monthly budget-to-actual reviews.
Mike Campo, partner at Plaza & Sanderson, delivered the district’s annual audit presentation and governance letter to the Timberlane Regional School District board.
Campo explained the auditor’s role as an independent opinion and identified recurring audit risks he tests for: improper revenue recognition, management‑override of controls (especially unsupported journal entries), and risks introduced…
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