District Audit Reports:
The audit function may be one of the most crucial aspects of monitoring a school district’s financial condition. It is the Board of Education’s responsibility to maintain the fiscal health of the district and to ensure that all legal mandates relating to the financial transactions of the District are adhered to. There are three types of auditors that Board of Education members encounter in a school district setting: claims auditor, internal, and external auditors. In addition the NYS Comptroller’s Office issued an audit report on August 8, 2007. The period covered in the NYS Comptroller’s Audit was from July 1, 2004 to June 30, 2006.

Claims Auditor: The claims auditor reviews all requests for payment of necessary expenses for the operation of the school district. The Claims Auditor assumes the powers and duties of the Board of Education in regard to approving all claims against the District. The claims auditor, an outside consultant, reviews weekly all invoices processed for payment by the district business office staff. He reports directly to the Board of Education. At the organization meeting the Board of Education appointed Michael Kearns, CPA as the claims auditor for the fiscal year.
Internal Auditor: The Internal Auditor focuses on an evaluation of the internal controls within the business function of the school district. In July the Jericho Board of Education appointed Callaghan Nawrocki to be the Internal Auditors of the Jericho Union Free School District. The Internal auditors review and evaluate many aspects of the District’s finances including payroll, benefits, cash receipts and cash disbursements throughout the year. The Internal Auditor also reports directly to the Board of Education and is totally independent of the business office function and the external audit function.

External Auditor: External auditors are certified or licensed individuals from independent firms that contract with a school district to perform the annual financial statement audit. The work performed by the external auditor is guided by established professional standards and legal mandates. The external auditors provide the school district with the year-end financial statements. The external auditors may also be consulted to discuss issues such as alternative accounting treatments of specific accounting transactions and new legislative mandates. The Board of Education has appointed Pappas & Company as the external independent auditors of the Jericho Union Free School District for 2006-07. At the September Board of Education Meeting the Independent Auditors, Pappas & Company, will present a report to the Board of Education and to the general public.

Comptroller’s Internal Control Audit Report--Period from July 1, 2004-June 30, 2006
Callaghan Nawrocki Internal Auditor’s Report—September, 2005
Callaghan Nawrocki Internal Audit Procedures Payroll Cycle—February 2007
Callaghan Nawrocki Internal Auditor Risk Assessment of Internal Controls—June 2007
Emkay Consulting, LLC Claims Auditor Report—July 2007