Purpose of Audit

The purpose of our audit was to review controls over fixed assets for the period July 1, 2014 through January 13, 2016.

Background

The Orange-Ulster Board of Cooperative Educational Services (BOCES) is a public entity serving 17 component school districts with approximately 55,800 students in Orange and Ulster counties. BOCES is governed by a seven-member Board of Education elected by the boards of its component districts. Budgeted appropriations for the 2015-16 fiscal year totaled approximately $122.9 million.

Key Findings

• Not all assets were recorded on the Fixed Assets list, and assets were not always in the locations indicated.
• Not all assets were tagged and some assets were disposed of without Board approval.

Key Recommendations

• Ensure that fixed asset records are accurate and up to date and that all fixed assets can be located.
• Ensure that all assets are tagged as appropriate and authorize all asset disposals.