ARRA Fund Audits – A School District’s Experience. Presented by Eduardo Ramos, Asst. Supt. Of Finance/Operations (512) 759-3771X1005 [email protected] Mary Newcomb, Asst. Business Manager (512) 759-3771X1012 [email protected] Hutto I.S.D. Background Info.
ARRA Fund Audits – A School District’s Experience
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Q22-24: Cash Management-additional measures implemented for proper control of ARRA funds, bank reconciliations, segregation of duties, monitoring deposits
Q25-33: Time and Effort Questions-job descriptions or contracts should contain ARRA coding
Audit Questionnaire cont.
Q34-42: Data Quality and reporting- “Has the subrecipient developed criteria or methodologies for the estimates of the number of jobs created and retained that were funded by ARRA funds? If “No” when and if district will be developing these criteria.
Q43: Written plan for use of ARRA funds
Q44: Were new budgets developed or existing budgets amended to coincide with written plan-tie budget to written plan
Q45: Mitigate Supplement vs supplant requirements
ARRA Audit Trigger: $750,000
TEA and Feds performing Audits
Notice of Audit: Short Timeframe (1-2 weeks
Team Effort: Business Office, HR, Spec Ed departments
Warning: Final Exit Interview Results may not be the same as letter findings
If letter findings suggest weaknesses, disagree and submit additional documentation