Bookstore "Flash Audits"

Audit Services is wrapping up the abbreviated bookstore audits of all MPS junior high and high schools. All schools have received an "audit synopsis" email, summarizing what was noted at each school's bookstore.

Over the last year, Audit Services completed internal audits of the bookstore operations at Red Mountain HS and Taylor JHS. Based on the results of those audits, the MPS Audit Committee has directed us to complete abbreviated audits (referred to as "flash" audits) for all MPS bookstores.

This flash audit included interviews, observations,  and limited review of transaction data and applicable supporting documentation over the following areas:

Paid outs - money refunded to students with cash out of the register 
Refunds - money refunded to parents via check processed through our Student Activities department
Waivers - method to remove outstanding fines/fees that does not involve applying payment to said fines/fees
Adjustments - Item prices that are adjusted to another price at the time of transaction
EOP (End of Period) - Process by which bookstores reconcile their sales within a time period and submit documentation to Student Activities.
Fundraisers Documentation retention - Retention of fundraising request and tickets sellers report/cash collection form for all site based fundraisers.
We also reviewed resale inventory control as well as cash controls.

 

 

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