FILE:  DID

 

AUDITS

 

 

The East Feliciana Parish School Board shall require all financial records and accounts, including business transactions, of the school system and each school to be audited.  The audit of selected accounts shall be conducted by the office of the Legislative Auditor of the State of Louisiana or an independent certified public accounting firm in conformance with prescribed standards and legal requirements.  Said audits, upon completion, shall be presented to the School Board for examination.

 

Other financial audits shall also be made of appropriate accounts upon the transfer, resignation, or dismissal of personnel responsible for receiving and disbursing school funds, or whenever, in the opinion of the School Board, a financial audit is deemed advisable.  Internal auditors or a certified public accounting firm shall conduct such audits as necessary.

 

INDIVIDUAL SCHOOL ACCOUNTS

 

In order to provide for constant accounting of school funds and to ensure that acceptable accounting practices are being followed at each school, audits of school accounts shall be conducted as follows:

 

  1. All school accounts shall be audited on a monthly basis by accountants in the Central Office using accepted auditing practices.  Any exceptions shall be reported, in writing, to the Superintendent of Schools.

  2. All school accounts shall be audited by the Central Office accountants during the summer after the books are closed for the school year.  Central Office accountants shall prepare a formal report to the Superintendent giving the following information:

 

  1. Any audit exceptions;

  2. All beginning fund balances;

  3. All receipts by fund during the year;

  4. All expenditures by fund during the year; and

  5. All ending fund balances.

 

ERRORS/MISSING FUNDS

 

All audits shall be conducted and filed in accordance with statutory provisions.  Should any error(s) or discrepancy(ies) be found as a result of any audit, for example, missing funds, unsigned or unapproved purchase orders or requisitions, erroneous receipts, those personnel found responsible for such errors or failure to follow proper accounting procedures may be subject to disciplinary action.

 

Any employee error resulting in any sort of loss of School Board funds shall, in addition to any other remedies permitted by law, be addressed as follows:

 

  1. The employee and the supervisor shall meet with the School Board and provide a written explanation.

  2. The School Board may demand restitution from the employee.

  3. The School Board shall have the discretion to take disciplinary action against the employee, including termination.

  4. The School Board shall reserve the right to enter into litigation in an attempt to recover the loss of public funds and/or assets, equipment or other items of value to the school system.

  5. In any proceeding against an employee, due process shall be afforded the employee in accordance with statutory provisions.

 

ANNUAL AUDIT

 

Within six (6) months of the close of the fiscal year, the School Board shall require an annual examination of all financial statements, financial accountability, and review of all books and accounts of the School Board.  Such a complete examination shall be conducted by a licensed certified public accountant(s), who has been engaged by the School Board and such examination shall be performed in accordance with generally accepted governmental auditing standards and the Louisiana Governmental Audit Guide.  The accountant shall have access to and assistance privileges of all accounts, records, files, and any other forms of recordation of the School Board.  However, the accountant shall comply with any and all restrictions imposed by law on documents, data, or information deemed confidential by law furnished to him/her during the examination.  The report shall then be submitted to the Legislative Auditor.

 

Within thirty (30) days of notice of the approval and acceptance by the legislative auditor each year, the School Board shall post the most recent annual independent audit on its website.

 

Re-Adopted:  November 2, 1999

Revised:  September 5, 2023

 

 

Ref:    La. Rev. Stat. Ann. ยงยง17:81, 17:88, 17:89, 17:196, 24:513, 24:514, 24:515

Board minutes, 10-2-84, 7-1-86, 10-5-99, 11-2-99, 9-5-23

 

East Feliciana Parish School Board