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Administering the School Budget Accounting and Auditing - Dis 9 - Essay Example

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It may be used in ensuring that the financial report of a school gets the financial statements and categories of group funds. This means that, the revised…
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Administering the School Budget Accounting and Auditing - Dis 9
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Administering the School Budget Accounting and Auditing - Dis 9

A comprehensive and aligned education program should give out the data that are necessary in answering questions like who finances education, how funds are allocated, how many funds are spending on the program, and how education resources are aligned to the achievement of students (Brimley, Rulon, Garfield, et.al, 2008). For these questions to be answered, a system of education requires more components than just finance. It needs a system of staff records, record of students, property system, program component, and a system of community service. The system of instructional agreement can be directed to records of students. This will give policymakers a Herculean analytic capability that would make timely and cost-effective decisions. This paper reports on incidents of misuse of funds that might have been avoided if a proper accounting and auditing practices had been followed. The paper discuses a situation in one of the school districts in Fentress County Tennessee.
A school needs to be concerned with the achievement of a bottom line that is profitable. Many education entities have an expectation of being in a position that is breakeven whenever an academic year ends. In York elementary school, in Fentress County Tennessee, the situation is particularly different. According to a series of audits that had been released, there were a number of audits which addressed some accusations on the school’s principal. The accusations, in this regard, alleged that the school, principal did sign some time cards of extra duty that had never been performed. Another audit in this school was done so as to establish the extent of the allegations made. This audit established that approximately $ 125,000 had been allegedly paid to unperformed work.
The auditing statement showed out that there had been some misused credit cards. In this regard, the credit card of the school was used to purchase more than $ 3,500 of personal purchases that were unauthorized. This ... Read More
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