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Audit committee recommends strengthened internal controls after RS Abrams review
Summary
The audit committee reported on an internal review by RS Abrams that examined cash handling, recordkeeping and reconciliations and recommended enhanced supporting documentation and revised forms; the board plans an external audit over the summer.
Trustee Carmel, reporting for the audit committee, summarized the committee’s recent meeting with internal auditors RS Abrams. The review examined cash handling, recordkeeping, reconciliations and approval practices and concluded with recommendations to strengthen internal controls and improve consistency with state education department best practices.
Carmel said recommendations include enhanced supporting documentation for cash receipts and deposits and revised forms and review steps for extra‑classroom activities; the external audit will begin over the summer and is expected to conclude in October. "We also discussed the external audit, which begins over the summer and is expected to conclude in October," Carmel said, and the business office hopes to match or better last year’s very low variance rate.
