Norwich undergoes three audits
NORWICH – After a long summer of continuous checks and balances by three separate firms performing audits, local school officials announce “everything looks good.”
Norwich City School District Deputy Superintendent Margaret Boice said each year the district is required to hire an independent audit firm to review everything from the school lunch program to guidelines of each course and program offered and everything in between. This year however, the school district was due for its five-year state comptroller’s audit, an external audit and an internal audit.
“These audits look at the complete financial undertaking for the year or years in question,” said Boice. She said the auditors review how money was spent and if it was managed the way it should be. “Within an audit report, it may state a district handled money in a way the auditors thought could have been done better,” she said.
Conducting the $13,500 external audit for the 10th consectutive year was a private firm, D’Archangelo and Company LLP. Presenting to the school board Dec. 18 was D’Archangelo representative Chip Clark, who explained the audit came through looking good for the year. He explained to the board the inventory status was good as well as the fixed assets and other variables that were examined closely.
Within the audit report a “glitch” that occurs in each district across the board is what is called an “extra classroom account.” “These accounts are handled by the school they pertain to and not the business office,” said Boice. She also went on to explain these accounts are made up of the students in various classes each year after fundraising efforts are complete and proper receipts are not always a possibility.
“Overall there were no significant findings,” said Boice.
A second audit conducted daily from mid-June to early October was done by the state comptroller’s office at no cost to the district. Representatives were on hand within the district daily, reviewing, collecting and analyzing data to be compiled for their comprehensive report mandated by the state.
A third audit conducted within the same time frame was a newly-designated internal audit costing $8,500 which addresses internal risks the district could better prepare to make safer for the good of the district. Analyzing ways the district could better prepare in case someone internally wanted to cause a problem, this team worked to repair any problems they may have encountered with the district’s internal systems. “The wanted to see if we had any practices that could result in loss,” said Boice.
The results of the internal audit are not yet completed said Boice, but they too will be presented at an upcoming board of education meeting.
Norwich City School District Deputy Superintendent Margaret Boice said each year the district is required to hire an independent audit firm to review everything from the school lunch program to guidelines of each course and program offered and everything in between. This year however, the school district was due for its five-year state comptroller’s audit, an external audit and an internal audit.
“These audits look at the complete financial undertaking for the year or years in question,” said Boice. She said the auditors review how money was spent and if it was managed the way it should be. “Within an audit report, it may state a district handled money in a way the auditors thought could have been done better,” she said.
Conducting the $13,500 external audit for the 10th consectutive year was a private firm, D’Archangelo and Company LLP. Presenting to the school board Dec. 18 was D’Archangelo representative Chip Clark, who explained the audit came through looking good for the year. He explained to the board the inventory status was good as well as the fixed assets and other variables that were examined closely.
Within the audit report a “glitch” that occurs in each district across the board is what is called an “extra classroom account.” “These accounts are handled by the school they pertain to and not the business office,” said Boice. She also went on to explain these accounts are made up of the students in various classes each year after fundraising efforts are complete and proper receipts are not always a possibility.
“Overall there were no significant findings,” said Boice.
A second audit conducted daily from mid-June to early October was done by the state comptroller’s office at no cost to the district. Representatives were on hand within the district daily, reviewing, collecting and analyzing data to be compiled for their comprehensive report mandated by the state.
A third audit conducted within the same time frame was a newly-designated internal audit costing $8,500 which addresses internal risks the district could better prepare to make safer for the good of the district. Analyzing ways the district could better prepare in case someone internally wanted to cause a problem, this team worked to repair any problems they may have encountered with the district’s internal systems. “The wanted to see if we had any practices that could result in loss,” said Boice.
The results of the internal audit are not yet completed said Boice, but they too will be presented at an upcoming board of education meeting.
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