School District of the City of Pontiac Presented by Kristi Krafft-Bellsky, CPA Presented on October 19, 2015

Yeo & Yeo, P.C. School District of the City of Pontiac 2 Balance Sheet – Governmental Funds June 30, 2015

Yeo & Yeo, P.C. School District of the City of Pontiac 3 Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended June 30, 2015

Yeo & Yeo, P.C. School District of the City of Pontiac 4 Budgetary Comparison Schedule – General Fund For the Year Ended June 30, 2015

Yeo & Yeo, P.C. School District of the City of Pontiac 5 General Fund Revenues For the Year Ended June 30, 2015 Total Revenue $61,490,775 In addition, there were $10,174,074 in other financing sources for the year ended June 30, 2015

Yeo & Yeo, P.C. School District of the City of Pontiac 6 General Fund Expenditures and Other Uses For the Year Ended June 30, 2015 Total Expenditures and Other Uses $66,025,626

Yeo & Yeo, P.C. School District of the City of Pontiac 7 Per Pupil Analysis of General Fund Revenues and Expenditures

Yeo & Yeo, P.C. School District of the City of Pontiac 8 General Fund – Deficit Fund Balance

Yeo & Yeo, P.C. School District of the City of Pontiac 9 Material Weakness Significant Deficiency Material Non- compliance Non- complianceDescription XXOperational Deficit XXBudgeting Government Auditing Standards Material Weakness Significant Deficiency Material Non- compliance Non- complianceDescription XXTitle I Equipment XXSOS Reporting Federal Award Findings

Yeo & Yeo, P.C. School District of the City of Pontiac 10 Unmodified Opinion Major Programs: Title I Special Ed Cluster 21 st Century Community Learning Centers Strengthening the Odds for Success Federal Compliance

Yeo & Yeo, P.C. School District of the City of Pontiac 11 Prior Year Findings Material Weakness Significant Deficiency Material Non- compliance Non- complianceCorrectedDescription XYesAccount reconciliations and AJEs XYesTimely cutoff of information XYesPrior period adjustment XXNo Operational Deficit XXNo Budgeting XXYesTitle I - allowable indirect costs XXYesTitle I - supplement vs supplant XXYesTitle I - allowable budgeted costs

Yeo & Yeo, P.C. School District of the City of Pontiac 12 Prior Year Findings (Continued) Material Weakness Significant Deficiency Material Non- compliance Non- complianceCorrectedDescription XXYesTitle I - special test of priority schools XXYes- Special Education No- Title I Title I and Special Education Cluster - equipment management XXYes21 st Century Community Learning Center – private non- public school participation XXYesPRIDE & PLAY – parental involvement XXNo SOS Grant - reporting

Yeo & Yeo, P.C. School District of the City of Pontiac 13  Current Year –  Documentation of Purchase Card Transactions  Approval of Purchase Orders and Personnel Activity Reports  Private School Correspondence  Maintenance of Effort  Parental Involvement  School-Wide Plan Review  Prior Year -  Documentation and Implementation of Internal Controls- Improvement made  Time Documentation and Personnel Files- Corrected  Private School Correspondence- Improvement made  Athletic Cash Collections- Corrected  Retention of Supporting Documentation- Corrected  Monitoring of Grant and District Budgets- Corrected  Fixed Asset Recording- Corrected  Maintenance of Effort- Remains a recommendation  Timely and Accurate Completion of Final Expenditure Reports- Corrected  Indirect Cost Calculation- Corrected  Staffing Requirements- Corrected  Parental Involvement- Remains a recommendation Management Comments

Kristi Krafft-Bellsky (800) Thank you!