[read complete report - pdf]

Audit Objective

Determine whether the Board provided adequate oversight of the District’s finances.

Key Findings

The Board did not:

• Perform an adequate claims audit.
• Develop multiyear financial and capital plans, including a plan for reserves, to establish long-term objectives for funding long-term needs.
• Establish reserves to reduce the unrestricted fund balance to a designated reasonable level.

Key Recommendations

• Properly audit claims prior to payment.
• Develop a multiyear financial and capital plan, including a plan for reserves, to establish long-term objectives for funding long-term needs.
• Establish reserves to reduce the unrestricted fund balance to a designated reasonable level.

District officials agreed with our recommendations and have initiated or indicated they planned to initiate corrective action.