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School District Audit Notes Deficiencies

By MARC VALERO

Highlands Today

Published: March 31, 2009

SEBRING - A financial audit of the School Board of Highlands County showed two "significant deficiencies," according to the State of Florida Auditor General, but no major problems with the district's accounting procedures.

"I think it's a very good audit," said Assistant Superintendent of Business Operations Mike Averyt. "They cited us on not recording an accounts payable in the correct accounting period."

There was a $1.9-million invoice on a capital project from a construction management firm that the district accounted for and paid, but was in the wrong accounting period, he said.

"They wanted us to enhance our procedure over the student diplomas - making sure we account for them," Averyt said.

According to the audit, the district's three high schools ordered 97 blank diplomas, complete with official signatures, which the school district did not keep track of.

In the absence of property inventory procedures, the blank diplomas could have been used for unauthorized purposes, the audit adds.

The audit noted the number of employees with computer access to financial and human resources data.

"These access privileges either permitted the employees to perform incompatible duties or were unnecessary for their job functions, increasing the risk of malicious or unintentional disclosure, modification or destruction of data and information technology resources," the audit states.

The audit covered the fiscal year ended June 30, 2008.

Key financial highlights of the 2007-08 fiscal year include:

• In total, net assets increased $8.1 million, which represents a 13 percent increase from the 2006-07 fiscal year.

• General revenues totaled $113.57 million or 85.4 percent of all revenues.

• Expenses totaled $124.9 million. Total revenues exceeded total expenses by $8.1 million.

• The district's total debt decreased by $2.76 million or about 3.6 percent.

Highlands Today reporter Marc Valero can be reached at 386-5826 or mvalero@highlandstoday.com

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