1. Procurement Practices o Assess compliance with procurement laws, School Board policy, and contract award processes. o Review vendor relationships, purchase orders, and payment approval procedures. 2. Accounts Payable and Payroll o Examine accuracy, internal control, segregation of duties, and fraud detection systems. o Assess whether proper verification and approval of payments and employee records exist. 3. Revenue Management o Review the receipt, classification, and use of funds from local, state, federal, and grant sources. o Assess internal controls over cash receipts, deposits, and reconciliations. 4. Policy and Procedure Enforcement o Determine the adequacy and enforcement of School Board and administrative policies. 5. Document Retention o Evaluate the school division’s document storage, destruction, and retrieval practices for compliance with applicable regulations. 6. Budget Management and Approvals o Review how budgets are prepared, approved, monitored, and amended. o Evaluate controls over spending relative to budget authority. 7. Asset Management o Review inventory and fixed asset tracking systems. o Evaluate accountability and disposition processes. 8. HR and Payroll Practices o Assess hiring practices, employee classification, time tracking, leave reporting, and payroll distribution. o Evaluate any duplicate or ghost employee risks. 9. School Division Finance Department Operations o Review internal controls, system access, segregation of duties, and compliance with governmental accounting standards. o Evaluate reporting and reconciliation processes. 10.Board Activity • Assess governance practices, oversight roles, board documentation, and financial accountability. • Evaluate School Board responsiveness to audit findings and corrective actions. 11. Compliance Reviews • Evaluate compliance with local, state, and federal regulations regarding use of funds, grants, and financial transparency.
