1. Reporting, Audits, & Close Out
Lettie Boggs
Colbi Technologies, Inc.
Providing Account-Ability to K-14 School Building Programs

2. The Fiscal Audit Contracts approved & executed Warrants authorized
Coding appropriate
Payments per contract
Numerical & vendor controls
The reasonableness test

3. The Performance Audit The ballot criteria
Projects as listed
Timely
Visual verification that the work has been performed

4. The Project Audit Several levels of audit Expenditures per OPSC policy
Contracts and selected warrants
Additional requested materials
Full in-district review
Expenditures per OPSC policy
The 184a or 50-06

5. Understand the Audit Criteria
What will OPSC be looking for?
Contracts approved & executed
Invoices with wet signature “OK to pay”
Warrant Register information
Relative tolerances
Sampling of invoices
Change Orders with DSA stamps

6. Keep Agency Correspondence
Keep all of your correspondence with various government agencies!
California Dept of Education (CDE), School Facilities Planning Division (SFPD)
Dept of Toxic Substances Control (DTSC)
Division of the State Architect (DSA)
Office of Public School Construction (OPSC)
Local Jurisdictions
(Don’t use Dept of General Services – it can be DSA or OPSC)

7. Multi-Year, Multi-Fund
The district ledgers are year to year, facilities projects are usually multi-year
Keep annual copies of the detail ledger for each facilities fund as well as the warrant register
Multiple funds may contribute to a project
Leave a trail !!!

8. Nexus Requirements State SFP Funds G.O. Bond Developer Fees/Mitigation
Redevelopment
Any other funds – know the requirements

9. The Importance of Coding
State mandated formats
The state role vs. county role
Object coding for better audits
Why did you spend the funds
Do your object codes provide adequate detail for audit
Do they provide too much detail

10. Approaches to Fund Mgmt
Combine funds from contributing sources
Keeps all the expenditures in one location
Makes maintaining the nexus’ a challenge
Code the contracts/PO’s to various sources
Maintains the various nexus requirements
Makes it difficult to track expenditures

11. Approaches to Fund Mgmt
Establish a primary fund
Code all contracts/PO’s consistently
Transfer expenditures to secondary funding sources
Maintains clear nexus’
Keeps record of entire project in one location in the fiscal ledger
Due to /Due from set ups must be managed

12. Close Out Clean up the ledger, annually
Declare savings and make the transfer
Mod for Mod/ New for New
Unless it is a district project
Compile the project records
As-builts, warranties, notes to file

13. Additional Information
At click on the CASBO icon
For an article on Multi Fund Accounting
For a paper regarding all available Funding Sources and their nexus requirements, Where is the Money?
For a detail listing of the components of the project record with hints for setting up the files, Managing the Project Record