Your Financial Audit: Stress or Stress Free You Decide Dr. Tony - PowerPoint PPT Presentation

Your Financial Audit: Stress or Stress Free You Decide Dr. Tony Juarez, EdD, CPA, CIA Pattillo, Brown, & Hill, L.L.P. Audit Manager May 25, 2018 5/25/2018 Dr Tony Juarez, EdD, CPA 1

Resume • Texas Education Agency, School Financial Audits Division 1987-1995 • Elgin ISD, Business Manager • Region 19, Associate Director for Finance and HR • Region 4, Chief Financial Officer • San Antonio ISD, Deputy Superintendent For Finance and Business • Brownsville ISD • Region 4 Business Consultant • Juarez CPA PLLC • Pattillo, Brown, & Hill L.L.P. 5/25/2018 Dr Tony Juarez, EdD, CPA 2

Finance Office Activities On-going Year Round Budget New Fiscal Year Budget Budget Committee Day to July 1 through June 30 July through November Financial September 1 through August 31 Day September through January Audit Tasks 5/25/2018 Dr Tony Juarez, EdD, CPA 3

Finance Officer’s Tasks Budget Board Meeting Reports Financial Financial Task’s Audit Audit Capital Assets Student Activity Board Meetings Cabinet Meetings Budget Planning and Preparation End Results Student Activity Principals, Department Directors, Teachers, etc. Staffing and Financial Requests Vendors, Financial Advisors, Insurance Agents, TEA, Region 1 Continuing Education 5/25/2018 Dr Tony Juarez, EdD, CPA 4

Financial Audit Bank Reconciliations Cash Property Property Tax Tax Monthly Tax Payment Reports Monthly Tax Payment Reports Receivable Revenue State Long-Term Summary of Finances Revenues Debt Financial Advisor Tier I and II Trial Amortization Schedules, Balance Lender Payment Notices , Transfer Capital Transfer(s) to another fund Schedule of Fixed Assets in/Out Assets Federal Due General & Fiscal Guidelines Grant to/From Fund, Grantor, Other Government Manageme Grant Management Handbook Schedule of Federal Awards 5/25/2018 Dr Tony Juarez, EdD, CPA 5

Stress Bucket Bank Reconciliations Property Tax Revenue Later Fixed Assets Long-Term Debt 5/25/2018 Dr Tony Juarez, EdD, CPA 6

Financial Audit Bank Reconciliations Request for information 1 bank accounts x 3 days x 6 months = 18 days Fixed Assets Reconciliation Minimal 2 months Long-Term Debt Reconciliation Minimal 1 months Trial Balance Reconciliation ???????? 5/25/2018 Dr Tony Juarez, EdD, CPA 7

Potential Consequences 5/25/2018 Dr Tony Juarez, EdD, CPA 8

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10 Trial Balance Out of Balance Texas Public ISD Dr Tony Juarez, EdD, CPA 5/25/2018

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Thank You 5/25/2018 Dr Tony Juarez, EdD, CPA 14