Agenda Item
Meeting Date:
6/15/2021 - 5:30 PM  
Category:
ITEMS OF BUSINESS  
Type:
Action  
Subject:
4. Action on Recommended FY22 Annual Plan of Audits and Report on District Risk Assessment Plan  
Strategic Plan Compatibility Statement:
Goal 3
Effective and Efficient Operations
 
Policy:
BG 2.12 - Board Audits: Annual Plan and Coordination  
Attachments:
 
File Attachment:
FY22 Annual Plan of Audits.docx.pdf
FY22 Risk Assessment Narrative.docx.pdf
 
Background:
1. Annually, the Milwaukee Board of School Directors adopts yearly Plan of Audits which identifies audit activities that the Office of Board Governance-Audit Services conducts during the ensuing fiscal year.

2. After the initiated and required audits have been determined, the next step in developing the annual audit plan involves using the results of the District Risk Assessment. Audit Services staff also reviews the Board's proceedings to identify possible audit topics. These audit topics then serve as the basis for drafting the annual audit plan, which provides information on possible audits and anticipated resources required to complete each audit.

3. The proposed FY22 Annual Plan of Audits and District Risk Assessment have been completed and submitted for the Board's review and approval. The plan includes initiated, required and proposed audits. Included with the recommendation is a summary of available days which identifies estimated resource requirements for each audit and shows how available days will be used to support the audit plan.

4. The proposed FY22 Annual Plan of Audits includes audit activities for the Board-approved Audit Services areas, including external audit assistance, departmental and program audits, fraud investigations and other reviews, including external audit reviews, and school audits with corresponding days. This year's FY22 Annual Audit Plan includes both cyclic and non-cyclic departmental and program audits. Cyclic departmental and program audits will be scheduled on a recurring basis in high risk/high-impact areas such as accounts payable, payroll, financial reporting, IT Security, among others. Other program evaluations could include reviews of district background screening processes, student enrollment and attendance system controls, bilingual programs, and building use and capacity.

5. Per Board Governance Policy 2.12, Board Audits: Annual Plan and Coordination, audits not ordered in the Audit Plan, but later determined to have major implications to the District, require the Board's approval to amend the annual plan of audits. This policy also provides for the Chief Officer of the Office of Board Governance to have the authority to approve critical and emergency audits during the year.
 
Fiscal Impact Statement:
NA  
Implementation and Assessment Plan:
NA  
Recommendation
That the Board approve the FY22 Annual Plan of Audits and District Risk Assessment as attached.  
Approvals:
Recommended By:
Signed By:
Paul Geib - Performance Audit Manager
Signed By:  
Jacqueline M. Mann, Ph.D. - Board Clerk/Chief Officer