Instructions: • Write a thorough response discussing all steps that you would t

Instructions:
• Write a thorough response discussing all steps
that you would take as the principal of the school to ensure this no
longer occurs. Keep in mind that this error cannot be repeated as it is
an audit exception.
During the 2016-2027 school year, XYZ Elementary School managed a
Principal-Operated FeeBased After School Care Program for the first time. It serviced close to 40 students and revenues generated from this
program amounted to approximately $24,500, mostly from After School Care
(ASC) Program Services (the school also offered a Story Hour
Program)10. According to reports from the school’s Free/Reduced
Meals
Program administered by the Department of Food and Nutrition, most of
the ASC Program participants were eligible for free/reduced
lunch. Those
students eligible to participate in the meals program
received a $1.00
discount from the regular ASC Program fee of $8.00
per day. In addition,
two students were eligible to receive financial
assistance from the
subsidizing child care agency 10.
Our review of the records and associated activities of the After
School Care and Story Hour Programs disclosed that during its first year
of
operation, program records were disorganized; the payment
information on many of the student registration cards was not
properly/consistently maintained and the information disclosed many
errors and omissions; and attendance rosters and ancillary records were
incomplete or not on file. Ultimately, the projection of revenues that
should have been generated by the program (based on
student participation) disclosed a revenue shortfall of approximately $(8,300).
Based on the details from the scenario, list three concerns that may
arise during an audit? How can the principal remedy these deficiencies
moving forward?
Instructions:
• Write a thorough response discussing all steps
that you would take as the principal of the school to ensure this no
longer occurs. Keep in mind that this error cannot be repeated as it is
an audit exception