Audit warns district about mishandling moneyPosted: Updated:
TUCSON -- Auditors who investigated the financial dealings of the Tucson Unified School District issued warnings that the district wasn't following appropriate measures for handling cash.
This was months before $30,000 disappeared from a vault at Catalina Magnet High School.
The certified public accounting firm Heinfeld, Meech & Co. performed an audit and tested the district's internal controls for the fiscal year ending in June 2007.
It notified the district in December that it was out of compliance with uniform financial guidelines in several areas.
Among the audit findings: The district didn't do all it could to keep track of items worth $1,000 or more, didn't establish formal policies governing the use of credit cards and that it failed to deposit cash quickly enough.
Information from: Arizona Daily Star
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