Waverly school board reviews purchasing audit
An audit of the Waverly Central Scholl District's purchasing and expenditures for the 2011-12 school year revealed a few "opportunities for improvement" and commended the district for its diligence in resolving issues.
The audit was performed by the Tompkins Seneca Tioga Board of Cooperative Educational Services' Internal Audit Services, which is required to perform an annual evaluation of one or more areas of the district's internal controls. Julie Kephart of Internal Audit discussed the audit's findings at Thursday's board of education meeting.
While the controls, policies and procedures over the district's purchasing and expenditures are present, the audit report states that some enhancements could be made.
Suggested changes include updating the district's policy to reflect recently changed purchasing regulations setting the amount a purchase must be for the district to request bids; reducing an $8,000 credit limit on a credit card from Lowe's home improvement store; using purchase orders for cafeteria disbursements; and setting a purchase order tolerance in the district's financial management system, which would set a maximum amount to be paid over an approved invoice amount.
The district is required to establish and submit a corrective action plan in response to the audit. Several of the suggested changes have already been made, district officials said Thursday.
Kephart commended the district's procedure for signing out credit cards, which are kept in a locked safe. A receipt must be submitted along with the returned card, ensuring that receipts are returned to the business office, Kephart said.
"Internal Audit would like to commend administration and all staff for the attention, diligence and commitment put forth by all," the audit report reads. "The willingness to create, implement changes and attempt to maintain a controlled environment in order to obtain the district's goals and objectives is clearly evident within the district."
Amanda Renko can be reached at (570) 888-9652; or email: firstname.lastname@example.org.