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Audit Objective

Determine whether extra-classroom activity (ECA) funds were properly accounted for, deposited timely and if disbursements were properly supported and for legitimate ECA purposes.

Key Findings

• The ECA clubs did not maintain adequate records; therefore, we cannot determine whether all money collected was accounted for, properly remitted and deposited intact. Other than minor exceptions, disbursements were properly supported and for legitimate purposes; however, ECA deposits were not always timely.
• Managing the finances of ECA activities is meant to be a learning experience for student club members. By not properly managing ECA finances, students miss this learning opportunity and District officials have little assurance that ECA funds are adequately safeguarded and properly accounted for.

Key Recommendations

• The Board should appoint a faculty counselor and faculty auditor.
• Clubs should maintain separate records including duplicate press-numbered receipts, club ledgers and activity logs and prepare profit and loss statements.
• Ensure ECA clubs remit receipts to the central treasurer promptly and that the central treasurer deposits them timely.

District officials generally agreed with our recommendations and indicated they planned to initiate corrective action.