Event 9-7-23

• 9/1 | Foods and goods | 3 Galloon Dispenser | $22.46 | SAU

• 9/1 | Foods and goods | Evaporated Milk | $10.92 | SAU

• 9/1 | Foods and goods | 2 Gallon Milk Bundle | $6.24 | SAU

• 9/1 | Foods and goods | 12 Oz Dixie Cups | $15.99 | SAU

• 9/1 | Special Projects | Sales Tax | $3.65 | SAU

----------------------------------------------- Grand Total $59.26

Event 11-9-23

• 11/7 | Special Projects | White Poster Board | $1.50 | SAU

• 11/7 | Decorations | Red Acrylic Paint| $1.25 | SAU

• 11/7 | Decorations | Gold Acrylic Paint | $1.25 | SAU

• 11/7 | Decorations | Tempura Paint | $1.25 | SAU

• 11/7 | Decorations | Brush set Materials| $15.99 | SAU

• 11/7 | Foods & Goods | Frito-Lay Chips | $15.99 | SAU

• 11/7 | Decorations | Tempura Paint | $15.99 | SAU

• 11/7 | Special Projects | Sales Tax | $3.65 | SAU

----------------------------------------------- Grand Total $59.26

Event 12-18-23

• 9/1 | Foods and goods | 3 Galloon Dispenser | $22.46 | SAU

• 9/1 | Foods and goods | Evaporated Milk | $10.92 | SAU

• 9/1 | Foods and goods | 2 Gallon Milk Bundle | $6.24 | SAU

• 9/1 | Foods and goods | 12 Oz Dixie Cups | $15.99 | SAU

• 9/1 | Special Projects | Sales Tax | $3.65 | SAU

----------------------------------------------- Grand Total $59.26

SAU ID: 2289

Conducted by: SGVRD on 5/13/23

Result: C Average

Auditor's Notes:

"While the financial statements are rather typical of a student organization with the capital of the charter’s opening balance, what’s more pertinent to the audit are the results of the bookkeeping assessment. While it's understandable that a charter’s first year will be a rather rocky and difficult one, a score of F- on accounting record keeping is extremely poor and rather striking. It's important to note that were it not for the IA’s A+ score, it is likely that the charter would not have passed the Audit at sufficient a margin to justify its continued financial grade. Additionally the out of pocket expenses are absolutely ludicrous as the majority of the charter’s expenses are made without the use of charter funds but rather by a single student. While this may benefit the charter and may be made willfully by the student, it is ultimately not a trend the Regional District would like to encourage."

Recommendation:

"For the next fiscal year, it is heavily recommended that the charter introduce a strong internal control to maintain accounting record keeping, specifically introducing routine checks of balance sheets and budget reports in the record archive. Additionally, the district implores the charter to use its own capital for 70%, at minimum, of expenses."