I Recently received a FOIL Document of an Audit done at Manhattan Center for the Fiscal Year 2012-2013.
One for the finding that auditors noted was that “There was no evidence of goods/services received (I.e Packing slips, receiving stamp, bill of lading signed received. etc) the finding details were There was no evidence of goods/services received as follow.
*For two out of five senior Dues related expenditures sampled totaling $11,362.56
* For one out of 15 expenditures sampled for the General School Fund (GSF) related activities totaling $33.00
Auditors also noted that a Lack of Internal controls which could result in a misappropriation of funds.
Their findings were
There was a lack of internal controls which could result in a misappropriation of funds.
* There was a variance of $27,020.52 between the total collections per bank statements ($203,029.37) and the total collection per Cash receipts Journal ($230,049.79) for the period July 2011 and October 2012.
* Invoices were not cancelled (no indication of payment or stamped Paid for 24 out of 24 expenditures sampled to help prevent duplicate payments. as followed
* For 15 out 15 expenditures sampled for the General school fund (GSF) related activities totaling $6,593.38 Four out of Four expenditures sampled for the Senior Trip Fundraiser totaling $38,564.82 Five out of Five expenditures for Senior Dues totaling 17,991.06
-For One Check noted as a returned check on the school bank statement the check was signed by only one authorized signatory
– School Officials DID NOT MAINTAIN an authorization from the senior class documenting the intended future use of the remaining funds from Senior Dues collected However school officials rolled over the remaining funds ($8,163.71) to the upcoming Senior class sub account within the General School Fund.
I have one question in April of 2012 Principal Jimenez offered students an $8,000 bribe for returning the surveys. The question is that money come from the senior dues listed above?