Internal Audit Office Manager Meeting January 22, 2015 Campus Audits – An Update

Let’s talk…  Scheduling  Dues Clarification  Inventory Tracking  865 Accounts  Booster/PTA Information

Scheduling It is OK to reschedule your audit.

“Fees” or “Dues” Clarification  If you are identifying your deposit as dues, please identify what those dues entail?  If a group is selling only T-shirts, THEN  Approval, inventory tracking, and profit loss form MUST be completed.  What if some are paying for a shirt with dues and some are not?

865 Accounts Authorization to spend—what does it look like?  Standardized Form that has officers signatures and amount authorized, OR  Minutes from a group meeting that authorizes one expenditure or a group of expenditures, OR  Minutes from the group’s first meeting that has a blanket authorization for sponsor to spend  Authorization must accompany expenditures

865 Accounts Should be part of general ledger review completed monthly by principals Short-cut:  In TEAMS go to “My Accounts”  Search for 865 Accounts  This will give you a copy of the beginning and ending balances as well as summary of activity  Print Screen of this page for principal review & attach to general ledger report monthly.

Booster Clubs/PTA New area of audit  This information is to be updated ANNUALLY.  Includes Name, Address and Phone for  Officers  Signers on Bank Accounts  Bank where deposits are made  Current copy of bylaws  List of Fund-raising activities planned

Questions or Concerns  Jenna Isensee  x26174  Kathy Perkins  x26179