problemfindingsmanagement response status of corrective action profit/loss statements not preparing...
TRANSCRIPT
Corrective Action Plan
Problem Findings Management Response
Status of Corrective Action
Profit/Loss Statements
•Not preparing profit/loss statements•Untraceable expenditure
•Generate a standard profit and loss form•Train all personnel•Meeting conducted at the beginning and closing of the school year•Signed contract for stakeholders confirming accountability
Sales Tax •Six instances were sales tax wasn’t paid
•Professional Development on using Excel for student treasurers and club advisors•Have a reference card regarding sales tax laws•Report expenditures to designated staff treasurer
Receipts •Twenty nine instances deposited late
•Provide original receipts to designated staff member•File copy of receipt•Convert original receipt to PDF file for electronic filing purposes
Disbursements •Sixteen instances were payments were made from a fax or copy
•Refer back to receipt action plan•Any disbursement without original receipt needs to be approved by the building principal
Profit and Loss Statements Generate a standard profit and loss
form Train all personnel Meeting conducted at the beginning
and closing of the school year Signed contract for stakeholders
confirming accountability
Sales Tax Professional Development on using
Excel for student treasurers and club advisors
Have a reference card regarding sales tax laws
Report expenditures to designated staff treasurer
Receipts Provide original receipts to
designated staff member File copy of receipt Convert original receipt to PDF file for
electronic filing purposes
Disbursements Refer back to receipt action plan Any disbursement without original
receipt needs to be approved by the building principal