COMPLIANCE
Schools and government agencies are under increasing regulatory scrutiny in the area of accounting. Recent years have also seen adverse SBOA reports around the state in regard to schools' missing or mishandled funds in extra-curricular activities, which often involve hundreds of thousands of dollars. BPI can help your enity meet the SBOA policy and audit requirements, and avoid losses.
EXTRA-CURRICULAR ACCOUNTING
If your school collects and spends money on extra-curricular activities, you want to make sure you are not at risk of financial loss or in violation of SBOA regulations. Let BPI help you minimize your liability and improve your ECA efficiency.
POTENTIAL LIABILITY
The amount of money that flows through the extra-curricular activities of the typical school system annually is staggering—up to a million dollars or more. Most school ECAs lack adequate oversight and internal controls, leading to a risk of cash theft, disappearing inventory, SBOA audits—and potential liability for school management.
THE SOLUTION
Bookkeeping Plus, Inc. offers an oversight program for at-risk ECAs. It includes:
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A review and analysis of current procedural problems
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A report of actual or potential losses from ECAs
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Recommendations for establishing effective policies, procedures, and internal controls
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Other options include training and ongoing monitoring
The program can help your school get control of its ECA financial issues and stay out of the headlines.
INTERNAL CONTROL COMPLIANCE
Indiana recently passed a law that requires schools and other government entities to implement a specific internal control methodology. The entity must develop, adopt, and implement new policies and procedures to bring it into compliance with the statute and the accompanying regulations from the State Board of Accounts. In addition, the entity must conduct training of its staff and prepare written certifcation on SBOA forms. The penalties for non-compliance can be harsh.
Bookkeeping Plus, Inc. now offers a program to perform all the required steps, do the training, and bring your entity into compliance. The BPI program is an efficent and cost-effective way to address this requirement and avoid problems.
