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COBB COUNTY SCHOOL DISTRICT SPLOST II Performance Audit December 31, 2008 PowerPoint Presentation
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COBB COUNTY SCHOOL DISTRICT SPLOST II Performance Audit December 31, 2008. Allatoona High School. Cobb County School District SPLOST II Performance Audit December 31, 2008. PURPOSE Why are we doing this? Legislation Enacted by State of Georgia in 2003

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COBB COUNTY SCHOOL DISTRICT

SPLOST II Performance Audit

December 31, 2008

Allatoona High School

cobb county school district splost ii performance audit december 31 2008
Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

PURPOSE

Why are we doing this?

  • Legislation Enacted by State of Georgia in 2003
  • Requires Performance Review or Audit when a School District Receives $5 Million or More Annually in SPLOST Revenues
cobb county school district splost ii performance audit december 31 20083
Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

PURPOSE-Continued:

  • State Mandated Objectives of The Review or Audit
    • Determination if SPLOST Funds are Expended Efficiently and Economically
    • Issuance of Periodic Reports, at least annually, which conclude on whether or not the SPLOST Program Expenditures have been made in an efficient and economic manner.
    • Issuance of Public Recommendations, at least Annually, for improvements in meeting the goals described above.
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Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

BACKGROUND

SPLOST I – Approved by voters in 1998 and became effective in 1999 for five years through year 2003.

SPLOST II- Approved by voters in 2003 and became effective in 2004 for five years through year 2008

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Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

Revised Budget (in thousands)

TOTAL $745,237

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Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

BUDGETED and EXPENDED FUNDS

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Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

AUDIT PROCEDURES

  • Performed in Accordance with Generally Accepted Government Audit Standards related to Performance Audits
  • Compared Expenditures to Projects Reflected in the Resolution Approving the SPLOST II Referendum and also the Projects Reflected in the “SPLOST II Notebook”
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Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

AUDIT PROCEDURES-Continued:

  • Obtained and Reviewed Documented Policies, Procedures and Administrative Rules Relating to Contracts for Services, Change Orders, Purchasing and General Financial Procedures
  • Obtained and Reviewed Financial Reports Prepared by the Financial Services Division and Tested Expenditures Reflected in the Reports
cobb county school district splost ii performance audit december 31 200810
Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

AUDIT PROCEDURES – Continued:

  • Conducted Interviews With:
      • School District Management and Staff
  • Visited Five Schools:
      • Allatoona High School
      • Awtrey Middle School
      • Brumby Elementary School
      • East Valley Elementary School
      • McEachern High School
  • Meeting With School District Management to Discuss Preliminary Results of Audit
cobb county school district splost ii performance audit december 31 200811
Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008

SUMMARY OF RESULTS

As a Result of Our Audit Procedures, We Conclude that the Cobb County School District Expended SPLOST II Funds in an Efficient and Economical Manner:

  • In Compliance with the SPLOST II Resolution Approved May 2003
  • SPLOST II Proceeds are Being Disbursed in a Fiscally Responsible Manner
  • Adequate Administrative and Accounting Controls Have Been Established to Ensure the Proper Management of Sales Tax Proceeds
  • Technology Related Expenditures are Reasonable Considering the Potential Volatile Market Environment for These Products
  • Investment of the SPLOST II Proceeds Were Conducted in a Sound Fiscal Manner
cobb county school district splost ii performance audit december 31 200812
Cobb County School DistrictSPLOST II Performance AuditDecember 31, 2008
  • Committed 93% of Funds Budgeted for New Schools and 100% for Additions/ Renovations
  • Approximately 84% of SPLOST II funds have been Committed for all Categories
  • $636 million in Sales Tax Revenues were Budgeted for SPLOST II, $593 Million in Sales Tax Revenues have been Collected as of December 31, 2008
  • Effective Budgeting and Management of the SPLOST II Program has resulted in all Major Projects Completed or Underway, with an Additional $77 Million of Uncommitted Funds in the General Contingency Category as of December 31, 2008
  • Effective Policies and Procedures Relating to the Physical Security and Control of Laptop Computers

NOTEWORTHY ACCOMPLISHMENTS