On August 20, the Washington State Auditor’s Office released 15 new audits. Only Steilacoom Historical School District No. 1 was found to have deficiencies, but these were found to constitute a “material weakness,” the worst finding for deficiencies.
“The District’s internal controls over financial statement preparation are inadequate, resulting in inaccurate financial reporting.” The problems even extended to Pierce County, “Pierce County is the treasurer for the District. The District does not have a process to reconcile its financial transactions to records kept by the County.”
The District also did not adequately design or follow internal controls for the federal Title I program.
For further details on all recent audits see http://portal.sao.wa.gov/SubscriptionServices/RecentAuditReportSubscriptions.aspx?CID=8247 .