LITTLE ROCK — The legislative joint auditing committee released its report of findings of educational institutions.
Out of the 18 school districts audited, four districts were found to have violations.
• Norfork School District. A school district automobile was used for personal use. The use of the vehicle was made by the superintendent of the school district.
In accordance with the Internal Revenue Service Publication 15-B, personal use of a school-owned vehicle is a taxable fringe benefit. This benefit should be included into the wages of that employee.
To correct the matter, the business officer of the school district will include the amount in the superintendent’s W-2.
Each pay period, the superintendent’s payroll check will automatically calculate the taxes on this benefit and be withheld from the employee’s check.
• Concord School District. Eleven unauthorized withdrawals totalling $71,300 were made from the district’s bank account.
The district personnel discovered the withdrawals from the bank accounts. The banking facilities recovered the funds.
The district was encouraged to reconcile the accounts promptly in order to detect fraud.
• Bald Knob School District. The district failed to follow proper cash receipting procedures for the pee wee football program at the school.
The receipt book that was used for accepting payments was not prenumbered. Those receipts did not show if the deposit was cash or check. Some funds could not be traced and $127 was not found.
The district didn’t reconcile the differences between the subsidiary receipts issued and turned in to the district.
The district will create a training problem to instruct staff on the proper handling of funds. They will hand these procedures to staff. The district will also continue to monitor and audit activity receipts and deposits monthly.
• Jonesboro Westside School District. Three unauthorized withdrawals totaling $10,330 were made from the district’s bank account. District personnel discovered the unauthorized withdrawals, All funds were recovered from the bank.
The district will continue to monitor its accounts and will address any differences as soon as found.
• Arkadelphia School District; Bentonville School District; Calico Rock School District; Cave City School District; England School District; Harmony Grove (Camden) School District; Hoxie School District; Melbourne School District; Monticello School District; Ozark School District; Piggott School District; Pocahontas /Users/pmg/Desktop/3. FRIDAY OUTDOORS.txtSchool District; Salem School District; and West Fork School District were found with no violations.
