Audit Finds Bank Reconciliation Issues Leading to Over 1.3 Million in Adjustments at Solen Public School District

<< All News Tuesday, June 8, 2021 - 03:39 pm Categories:
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The Office of the State Auditor has released an audit of the Solen Public School District that identified 11 separate areas of concern. These include:
 

  • $776,745 difference in multi-year bank reconciliations, accumulating for multiple years. At the time of the audit, management was not able to determine if this was caused by error or fraud.
     
  • Inaccurate financials submitted to the Department of Public Instruction. The financial records submitted to DPI did not align with financial records. The records submitted impact funding allocations for school districts.
     
  • Incorrect fund balances. The funds impacted included the General Fund, Building Fund, Johnson O’Malley Fund, and Student Activities Fund.
     
  • Missing board approvals for nearly one million dollars. The board did not properly approve 53 various expenses, totaling $647,368. They also did not properly approve two construction invoices totaling $266,919.
     
  • Lacking documentation for $29,874. Documentation was not found for $17,628 in checks to a former employee, $949 in checks to vendors, and $11,297 in credit card purchases.

The staff responsible for these areas of concern are no longer with the district.

“There are many issues here to address and the lack of financial accountability is concerning,” said State Auditor Joshua Gallion. “Our hope is that the school district can take our office’s road map for improvement and respond in the best interest of the District.”

The complete audit report can be found here.

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