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| State-Ordered Audit Finds Financial Mistakes in Knox County R.O.E.; Read Full Report Here |
The Illinois Auditor General has found new problems with some of the procedures in the Knox County Regional Office of Education.
A report released Wednesday by Auditor General William Holland's office indicates that an audit of finances for the 2007 fiscal year representatives of his office did on the Knox County ROE indicates that there is not sufficient internal work being done on the reporting of their finances.
A summary of the 50-page report claims that the ROE is required to have certain controls in accordance with standard accounting principles, and in terms of financial reporting, they do not. The report claims that for example, "numerous adjustments" had to be made to get financial statements in accordance, and in another example, the office didn't fully have control over accounts receivable, accounts payable, and deferred revenue.
Of the latter example, the auditor's report indicates that a test of accounts payable noted over $11,000 worth of items that had been omitted, and that $1200 had been omitted from accounts receivable.
The Auditors recommend implementing procedures to make sure accounting records are complete, and should be prepared by properly-trained individuals.
Knox County Regional Superintendent of Schools Bonnie Harris is in Denver at the Democratic National Convention and unavailable for comment, but ROE officials are cited in the report as saying they don't have adequate funding to hire or train accounting personnel properly, but that they've tried to employ an individual, "on a limited basis" and will try to employ someone who can do a better job.
To read the full 50-page Illinois Auditor General's Report, CLICK HERE (PDF document).
To read the summary report, CLICK HERE (PDF document). |
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| 08 27 08 by Newsroom |
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