Adopt a written policy outlining the financial objectives, optimal funding levels and conditions for use for each reserve. I'll also show you how to hide a row that has no number or has a zero value in all three columns to improve the presentation of the financial statements and I'll show you how to format the worksheet to show a white background. (A computer screen appears with a bold blue coloured rectangle drawn around the cells H10 to K10). PDF COMMUNICATIONS AUDIT REPORT - Williamsburg-James City County Public Schools (An Excel screen appears on screen being used: the user selects the command File (pause) Open (pause) to locate and open an electronic file in the folder containing the schools trail balance). Were we having our 150-year jubilee and actually we wanted our main heritage building to look really, really good for that so we painted it a year earlier? Complete the data input section by section so that you can check totals as you enter data for each category. We have done this to make the job of producing the financial statements easier. Welcome and thank you for taking time to view a series of short instructional videos on how to optimise the use the Kiwi Park model in order to complete a set of your schools financial statements. FOR THE FISCAL YEAR ENDED . So really your audit file should include any supporting documentation that youve used in the preparation of your financial statements. This pops up every now and again because often we have power company shares or Fonterra shares or Zespri shares because theres an element of the school that happens to run a kiwifruit orchard and wants to sell the kiwifruit off or has a dairy farm that it operates and so they sell the milk to Fonterra for example. And we do strongly recommend that you do this at the same time as you submit your accounts to Te Thuhu, the Ministry. The initiative involves creating a junction in the form of a platform for all portals and websites of the Department of School Education in the Government of India and all States and Union Territories (UTs). It's also important that you check and complete each note if you are required to include information manually. And one of the main controls that helps against fraud is segregation of duties, so thats having more than one person involved in a process, because then to have fraud you have to have collusion between those two people. h. The school incurred costs for pupil transportation to/from the school. On the right hand-side, the powerpoint presentation is showing the webinar's title 'Managing School Finances Annual Reporting')Kia ora katoa, k Chad tku ingoa, n Kirikiriroa ahau. Our practices and policies are shaped by: respect, kindness, responsibility, accountability and honest and ethical behavior. The cash flow model needs some more refinement to improve the presentation of information around the buying, selling and disposal of assets. Finally, in order to check the statement of financial position refer to check calculations on line 54 under columns H to J. (on the computer screen the user selects the Statement of Comprehensive Revenue and Expense, scrolls over to and clicks on the Notes and Disclosures worksheet). Thats the other one that does pop up, is actually weve had a couple of instances where securities have been gifted to a school to use, and the annual returns from that are used for a scholarship for students moving forward into the future, so if that happens please get hold of your school finance advisor straight away and we can help you through that process. Be made transparently so theres an openness about your spending, about what youve spent your money on, and also the decision-making process, so how youve come to the decision that thats an appropriate expenditure of the school. These audits can also review whether or not students were eligible to be reported for ADM by the school district or charter holder. Do we need to stagger the way we paint the school? . Paste those values into the School Trial Balance Input worksheet at cell A2. And what you need to do, what information you need to provide, again theres more information in our FISH handbook in Section 2.9.1. You will see lower down on this page, information related to the annual reporting process. Report No. The Auditor-General has their own auditing standards, these are based on the normal international standards of auditing, but we also have some of our own statements and standards, and these reflect public sector aspects of the audit which wouldnt be done in a normal private sector audit. That means they will look at a sample of expenditure and they will probably look at it more closely than they would at some of the other expenditure testing they will do. And again, a lot of its about education, make sure you are vigilant, make sure your staff are vigilant, ensure existing controls arent overridden, dont click on any links that look suspicious. Jane. About 2,400 of those are school audits. Ray Unified District ADM Letter Report Fiscal Years 2015, 2016 and 2017. PDF Audit of the Internal Funds of Selected Schools - Winston Park Elementary details) from the fiscal year being audited for all funds. Where you have an intervention in place and the Ministry is funding that intervention therell be information come through for you to include that. PDF TORRANCE UNIFIED SCHOOL DISTRICT AUDIT REPORT For the Fiscal Year Ended The net book value of the vehicle at the time of disposal was $4,000 and we sold it for $5,000 cash, GST exclusive. In terms of responsibilities, the board is responsible for its financial statements. 21-32 Career Success Schools ADM Audit Report Fiscal Years 2018, 2019 and 2020. Sensitive expenditure is any spending by an organisation that could be seen to be giving private benefit to staff additional to the business benefit to the organisation. The audit file that we talked about earlier, I wanted to step through a few of the areas that schools should be thinking about making sure they have prepared support in behind a number of these areas and have put them in that audit file ready for your auditor once they arrive. Leave the totals line so that you have a mechanism to check if you agree with your school's totals. contact your Ministry School Finance Advisor. If we move on, one of the common questions we get is, what is our role as auditor, and do we look at everything thats in your accounts down to the dollar and cent? A risk assessment is a PDF Audit of Payroll Policies and Procedures of Selected Schools Because thats actually going to give us a more accurate idea of what that cost is moving forward. (Chad continues to present from power point presentation). Save as into the working folder you are using for the school's latest financial statements. If you need some help your Ministrys financial advisor is a great place to start. Check you have the signed original documents at hand as per the checklist. Library. These show how the board has used its funds to achieve its charter goals. And then getting the culture right, thats about minimising the opportunities and removing the temptation to commit fraud. PDF Seattle Public Schools The Office of Internal Audit PDF St. Cloud State University CULTURAL AUDIT Again, weve updated our guidance around how to account for capital works projects and all the stuff that Ive just been talking about, and if you look into the Financial Information for Schools Handbook or creatively called our FISH handbook, in Section 4.10.1 theres some good information in there, so I do encourage you to take some time to read that. We may also refer to matters we want to draw readers attention too, these we call emphasis of matter or the matter paragraphs and examples of those are breaches of legislation or financial difficulties, and often we might to refer to those in your Audit Report as well. The best thing that you can do as a school is get this sort of information to your auditor as soon as possible because the more time we have the earlier we can start the audits, and the more time weve got to get through them all the more likely were going to get through them all by the end of May. You will find the checklist showing the five components required included in the link above under the heading Annual Report Checklist. We actually find the main way fraud is detected is through an organisations internal controls, so its very important for an organisation just to ensure that the controls are up to date and fit for purpose. We will look at these more closely, well want to know why the expenditure was incurred and we may also want to look at some of the information and the audit trail and supporting information behind the decision-making process, and thats not because we suspect theres any wrongdoing, but just because of the nature of the expenditure we just want to make sure that the principles that Ive just spoken about have actually been followed in making the decision to actually spend that money. In terms of fraudulent payments, its making sure youve got a second person to review and authorise all master file changes, thats in particular any changes to bank accounts, senior management reviewing master file change reports regularly, obtaining and reviewing supporting documentation before making payments and then marking them as cancelled after, so not making payments without the proper documentation, and investigating all suspicious invoices. So how can we address that? Now, with the information that goes through the secure data portal it will be password protected, its just an extra security measure we have to put in place. PDF Internal Audit Report - Civica Select the worksheet Notes and Disclosures. In addition, the annual report assists central oversight agencies in planning their work and coordinating efforts. Finally, if you are populating the model for the first time save the file as Version 1. And then expenditure thats made without proper scrutiny, so thats people spending without really thinking about whether it actually is in line with the policies. Just moving on to sensitive expenditure. (Hamish Anton continues to present from power point presentation)Tn koutou katoa. JUNE 30, NON-PROFIT Page No. If you need assistance confirming this functionality, check with your system provider or ask the system user to do this for you. We also do performance audits, these are looking at effectiveness, efficiency, we look at matters of probity, waste, financial prudence, and we also look at whether organisations are complying with their statutory obligations. Open the GL file that contains the school's trial balance, budget and last year and copy the three columns and rows. So thats just something really important to be aware of when youre looking at this, because you want to get these in advance, cause you can apply to exceed the 10% limit, but it must be in advance and the difficulty here is that its both the Minister of Education and the Minister of Finance that have to approve you to be in breach of the borrowing threshold and its only for a period of time. You may decide to devolve that responsibility of the preparation of the financial statements to a financial service provider, many schools do that, but ultimately it is the responsibility of the board, they are your financial statements. Theyre both going to take you through a session a little bit later on around a couple of various topics. Text on screen: Kiwi Park Training Module Preparing the school trial balance for export. (Jane Rogers continues to present from power point presentation)Kia ora, my name is Jane Rogers, Im the Sector Manager for Schools at the Office of the Auditor-General. This year very excitingly the SAAR Report is actually going to be provided in both a PDF and an Excel version. Column I is copied, paste special - values. To hold shares in a private or public company you need to apply for prior approval from the Minister of Finance and Minister of Education. So, if you go on our website there is a Good Practice tab and also on this slide which will be shared there is links on the slides. Expenditure which doesnt have an adequately documented or justifiable business purpose, so when youre going through these decision-making processes its very important to actually link it back to what youre trying to achieve by spending that money, and how it is actually linked to your schools objective. And then in terms of fraudulent payments, I mean a lot of the theft of cash, theft of assets are relatively small frauds that we see, but there have been a number of significant frauds in schools in recent years which have been reported in the media, and these are usually through false invoicing, that sort of thing. NP - 2 Date Issued: 5/2016 . Ive already spoken about this a little bit in terms of sensitive expenditure. Make sure that you can check off each of the following items before you send your Annual Report to the Ministry: Use the appropriate Kiwi Park model spreadsheet to completeyour annual report. The objective of our audit was to determine whether school districts have adequate internal controls over the payment of health insurance for retirees; specifically, to determine if school districts have made health insurance payments for retirees or their spouses and/or dependents where eligibility has been precluded by death.". The net book value of the assets disposed of at a loss needs to be separately set off on row S 97. The opposite of accounts receivable is accounts payable. In their recent audit report, the Comptroller's office states: "The objective of our audit was to examine the Districts administrative costs relating to instructionaltechnology operations and claims processing for the period July 1, 2009 through July 13, 2010. Right click on your mouse or other pointing device and select Format Cells click on Fill and then select the white as the background colour. (An internet explorer webpage appears on screen: the user types services.education.govt.nz and hits enter on their keyboard, a new webpage appears: the user clicks on Education Sector Logon icon). We do actually collect information; our auditors collect information on any actual or suspected frauds from across the public sector. (An Excel spreadsheet appears on screen - a user selects the Notes and Disclosures worksheet; pause the user moves the mouse to cell C1, unclicks Blanks and OK). The following is the most recent audit, which was issued inJune 2011. Carroll Elementary And what should you really be looking to talk to them about? Theres rationalisation, this is the argument of fraudsters built up for themselves to explain why its actually justified for them to actually do that. Close all Excel worksheets and open last year's audited model and this year's blank model. Go to Cell C 1 and click on the icon to the right of the cell. Go back to Cell C1 click on the icon to the right of the cell, tick Select All and click on OK. Go to cell B1 and click on the icon to the right of the cell. Chinle Unified District ADM Audit Report Fiscal Years 2015, 2016 and 2017. So, to summarise theres a number of things you can do to prepare in advance of the audit visit, pulling together your audit file that has the support in behind the numbers that are in your accounts.
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