The Public School System is working to finalize an \u201cunmodified\u201d fiscal year 2014 audit.<\/p>\n
PSS comptroller George Palican gave a report on the audit in last week\u2019s CNMI State Board of Education meeting. He noted that this audit was turned in two weeks before deadline, and that the auditor\u2019s opinion was unmodified, or in other words, its financial statements were presented in accordance with all requirements.<\/p>\n
In his report, Palican said there was \u201cno material weakness in internal control in financial reporting and federal awards.\u201d<\/p>\n
Additionally, he said there were \u201czero questioned costs.\u201d<\/p>\n
The PSS\u2019 auditor is Burger, Comer and Magliari.<\/p>\n
Palican said once the audit is finalized it will then be sent to a clearinghouse.<\/p>\n
Board member Marylou Ada told media that in previous years, audit \u201cnumbers could not be verified.\u201d They were \u201calways qualified,\u201d she said.<\/p>\n
For one, the fiscal year 2011 single audit reported deficiencies in bank reconciliation concerning federal funds; procurement; allowable use of department funds; property management (including inventory); travel policies; and payroll procedures, among others.<\/p>\n
But this audit was a \u201cclean slate\u201d financial statement, Ada noted.<\/p>\n
The board described it as a \u201cthree-year journey\u201d toward this clean audit. \u201cStrict budgetary controls\u201d and \u201cstrengthened documentation\u201d were reasons given for the strong audit.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Public School System is working to finalize an \u201cunmodified\u201d fiscal year 2014 audit. PSS…<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4150,4151,40,122],"class_list":["post-200242","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-george-palican","tag-marylou-ada","tag-pss","tag-travel"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/200242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=200242"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/200242\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=200242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=200242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=200242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}