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PCCD Board Retreat. November 10, 2011. Agenda . Corrective Action Matrix FCMAT Report. Material Weakness vs. Significant Deficiency .
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PCCD Board Retreat November 10, 2011
Agenda Corrective Action Matrix FCMAT Report
Material Weakness vs. Significant Deficiency • Material Weakness: a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. • Significant Deficiency: a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Corrective Action Matrix Independent Audit Findings
2010-5OTHER POST EMPLOYMENT BENEFITS(OPEB)BOND INVESTMENT ACTIVITIES
2010-7 CASH IN COUNTY RECONCIIATIONS2010-8 BANK ACCOUNT RECONCIIATIONS
2010-18SCHEDULE EXPENDITURES OF FEDERAL AWARDS (SEFA)/SCHEDULE OF EXPENDITURES OF STATE AWARDS (SESA)
Corrective Action Matrix Single Audit
2010-4SEPARATE ACCOUNTABILITY FOR THE AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) FUNDING
Facilities Bonds - COC Meetings Recommendations • Develop and produce agendas and minutes in compliance with the Brown Act, including explanation of each item, motion, second and vote results, and time for public comment on agenda and non-agenda items. • Post all agendas and minutes for every COC meeting, regardless of where there was a quorum. • Hold COC meetings a least quarterly in compliance with Proposition 39 requirements. • Correct the COC bylaws to state that COC meetings must occur at least quarterly, in compliance with Proposition 39 requirements. • Appoint at least seven members to the COC in the required categories.
Facilities Bonds - COC Meetings (cont’d) Recommendations • Cease holding the COC members’ binders at the district office. Find ways for COC members to take this information home to allow for adequate review of documents. Technology can be used to make this process less cumbersome. • Provide committee members with all documents to be discussed at COC meetings at least 72 hours, and preferably one week, prior to the meetings. Do no wait until the meeting to provide the documents. • Commit to providing COC members with the reports required by Proposition 39 and with those requested by the COC. • Cease requesting that COC members not share public documents with members of the public prior to meetings.
Facilities Bonds - COC Reporting Recommendations • Require that the COC meet at least quarterly regardless of whether there is a quorum. Meeting agendas should provide complete descriptions of each agenda item, and meetings should be structured in accordance with the Ralph M. Brown open meetings act. Minutes should be taken and approved at the following meeting. • Provide clear and understandable explanations and tracking for all past and current projects and expenditures in all areas. • Substantially reorganize and reformat its bond program reports that are presented to the COC and to the board and made available to the district’s website. The reports should include several levels of detail, starting with summarized data and including more detailed project-level information.
Facilities Bonds - COC Reporting (cont’d) Recommendations • Provide summary master program budget and individual project budgets consistently at each COC meeting. The full reports for each project may comprise 20-30 pages, but a five-or-six-page summary of each project budget would be sufficient for the COC, the board and the public, with the complete detailed project budget available to any member of the public upon request. • Review program and budget report formats with the COC and seek feedback regarding possible changes. • Prepare and present other reports about particular issues or projects as needed.
