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District 38 passes audit; issues found
May 4, 2014 - By Alejandra Silva, Staff Writer
A passing audit completed by Lovelett, Skogen & Associates, P.C., has been accepted by the Fremont County School District 38 Board of ...
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A passing audit completed by Lovelett, Skogen & Associates, P.C., has been accepted by the Fremont County School District 38 Board of Trustees.
Business manager Connie Gay told the board April 14 that the audit showed two issues within the district's internal control.
The first finding was related to the consolidation of responsibilities for administrative staff.
"You find that a lot in small schools," Gay said. "We just don't have a way to segregate (duties)."
The auditor said the issue creates a "likelihood that a material misstatement of the financial statement will not be prevented or detected."
A second finding dealt with an overpayment of about $1,000 to an employee paid by the Title I grant. Gay said a typo in the system may have caused the error, but additional steps were being taken to "closely monitor the computation of payroll based on approved contracts."
The district was required to respond to the findings. The auditor received and accepted the district's response --also known as the corrective action plan.
The auditor also analyzed the district's major funds, including the governmental, food services and fiduciary funds. Governmental funds deal with financial assets, cash flow and prognostication of financial resources. The food services fund is the district's school breakfast and lunch program accounts and operating and grant revenues. Fiduciary funds deal with other assets such as student activities funds.
The audit determined an increase in the school's net position by 1 percent, roughly $425,000, from 2012. The governmental funds saw an increase of about $1 million which was added to the general fund. There was decrease of about $41,000 in the fund balance of the special revenue fund.
The food services funds net position decreased by about $16,000.
The district reported about $12 million in governmental fund expenditures but total assets of the district increased by about $477,000.
Other agenda items
The school board also approved a resignation and supervisor and classified contracts for K-8 teachers, special education positions and Arapaho Charter High School positions.
The Student of the Month award was given to fourth-grader Byrdie Spoonhunter, Employee of the Month was Shayla McNiven and Wayne C'Hair was awarded Partner of the Month.
The board also determined the eighth-grade promotion would be at 6 p.m. May 21 for students advance to ninth grade. The ACHS graduation also was set for 6 p.m. May 16.
The board approved advertising for a K-5 special education resource teacher, and the trustees tabled advertising for an accounts payable specialist in order to do more research on the position. The board also approved advertising for the middle school secretary position and special education contracted services contracts.