Legislative Joint Auditing-Educational Institutions

All in favor of approving the minutes opposed okay mr fank we'll at you take it from here thank you miss chair hang good afternoon today we have two educational reports for the fiscal year twenty twenty two to review both of these reports have findings neither one was a repeat finding and neither of the reports were deferred from the last meeting this is the time of year where we just have less educational reports coming through because we are gearing up for it with FY twenty three audits right now so you'll see more as we finish out the the new year and then ever finish out the year and then start with the new year horatio school discharge had one funding in arteries of equipment purchases from the covered nineteen education stabilization find. We identified the purchase of two pieces of equipment with unit crop cars greater than five thousand dollars for which the district did not obtain written approval from the arkansas division of elementary and secondary education. And that concludes a findings for her ratio school district. Anyone have any questions. Thing no questions his is reviewed and next the next report was a rector score district which had two findings in our examination of bank reconciliations we noted the following. The district's operating bank account was not reconciled for each month and there were variances ranging from six hundred and fifty five dollars to a hundred and ninety two thousand dollars. Bank reconciliations were not performed in a timely manner in addition the june reconciliation was not performed by the district. Seven receipts totalling almost fifty seven thousand dollars were receipted however these were not recorded in the general ledger. Three checks totalling a hundred and thirty nine thousand dollars were outstanding at your in but they were not included on the outstanding checks list. The june twenty twenty two bank reconciliation included two checks on the outstanding checks list totalling four thousand dollars they had already cleared the bank prior to june thirty of twenty twenty two. One bank withdrawal to establish a change fund in the amount of seven hundred dollars was not recorded in the general ledger. The district failed to make timely federal tax deposits for june thirty of twenty twenty two additionally quarterly tax reports were not filled for quarters ending december thirty one twenty twenty one through june thirty twenty twenty two. None of the fifteen journal entries that we tested did not have supporting documentation. Finding two our examination of parallel records revealed that supporting documentation for the july tenth twenty twenty one period was not available resulting in undocumented parallel expenditures of almost eighteen thousand dollars. Additionally time sheets for bus drivers that were included in our testing did not have proper approval by supervisors and that concludes the findings for rector school district. Members anyone have any questions. Thing no question to his animal standards reviewed. We have no new business on the agenda i'm aware of.