Audit Objective 

Determine whether Locust Valley Central School District (District) officials maintained a complete and accurate inventory of information technology (IT) equipment.

Key Findings 

District officials did not maintain complete and accurate IT inventory records. As a result, officials cannot assure taxpayers that all IT equipment is safeguarded, adequately accounted for and would be detected if lost, stolen or misused. 

The Board of Education (Board) did not adopt a comprehensive written policy for IT equipment inventory or perform periodic physical inventories. We determined that 49 of the 72 IT assets we reviewed (68 percent) were not properly accounted for. Specifically: 

• 49 IT assets totaling $56,909, including 37 assets with a total purchase price of $39,667 and 12 assets with a total estimated purchase price of $17,242 were not inventoried.
• Four IT assets totaling $1,646 could not be physically located.

Key Recommendations 

• Develop and adopt a comprehensive policy and procedures to appropriately track and inventory IT equipment.
• Maintain complete, accurate and up-to-date IT inventory records.
• Perform periodic physical inventories. 

District officials generally agreed with our recommendations and indicated that they have initiated or plan to initiate corrective action.