Audit Objective 

Determine whether the Raquette Lake Union Free School District (District) Board of Education (Board) and District officials provided effective oversight of the Business Office operations.

Key Findings 

The Board and District officials did not provide effective oversight of the Business Office operations. Specifically, the Board did not: 

• Ensure the required 2021-22 annual financial report was filed.
• Obtain adequate written agreements with the third-party providing accounting and reporting services that specified the roles and responsibilities of the District and the third-party provider.
• Implement controls to safeguard the Treasurer’s signature on disbursement checks and monitor the third-party online access to the District’s bank accounts.

Key Recommendations 

• Ensure that the required annual financial reports are filed in a timely manner.
• Ensure that written agreements appropriately assign roles and responsibilities.
• Safeguard the Treasurer’s signature and monitor online banking access.

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