[read complete report – pdf]

Audit Objective

Determine whether the Irvington Union Free School District (District) officials properly monitored and accounted for fixed assets.

Key Findings

District officials did not properly monitor and account for 63 percent of the 105 fixed assets reviewed that cost $595,118. This can be attributed to District officials last conducting a physical inventory in 2018. Specifically, we found:

• Of the 80 assets tested, District officials were unable to verify that seven assets were in the District’s possession. These items included a desk, oven, stove, television and television studio equipment.
• 65 assets had missing, or inaccurate information recorded in the fixed asset records.
• Eight assets were disposed of without Board authorization. The assets included kitchen appliances, exercise equipment and a floor cleaning machine.

Key Recommendations

• Maintain complete, accurate and up-to-date fixed asset inventory records.
• Conduct periodic inventory checks and ensure fixed asset disposals comply with the District’s fixed asset policy.

District officials disagreed with certain findings in our report. Appendix B includes our comments on issues District officials raised in their response.