I guess the blame will go the state, for incompetence of PSD lack of oversight.... Among the reports findings, it concludes: * As of April, there were 46 district locations where petty cash accounts exceeded the desired authorized amounts by a total of $67,658. * Regarding student activity funds, which totaled $5.1 million, several schools failed to comply with bidding requirements for small contracts, establish finance committees or close inactive accounts. * Student TransPasses, which cost the district $32.8 million in fiscal year 2013, were at an increased risk for theft and abuse because of breakdowns in distribution and accounting at individual schools. * Several pieces of the districts art collection could not be located. A district employee reported some art, valued at $28,550, remained in closed buildings and an additional $70,050 of artwork could not be located. * About 14 percent of district employees who were required to file financial-interest forms under state law did not comply. In a written response to the report, the district agreed with many of the findings and provided detailed steps it has taken to address the weaknesses. Read more at philly/philly/education/20140828_Butkovitz__District_lacking_proper_financial_controls.html#JLv48KOVMH7zzfps.99
Posted on: Sat, 30 Aug 2014 08:46:39 +0000
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