TITLE

Oklahoma City Schools' Fiscal Statement 'Unreliable'

AUTHOR(S)
Williamson, Richard
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p29
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Financial records for the Oklahoma City Public Schools are in such disarray that auditors issued a rare disclaimer that the district's annual financial statement is unreliable. Manny Soto, chief operating officer of the Oklahoma City Public Schools, said the district would voluntarily submit another audit in 90 days, correcting the deficiencies cited in the report. Officials said the district's accounting software and the Government Accounting Standards Board's requirement that large school districts convert from a cash accounting method to an accrual basis contributed to the problem. Soto said the district is considering forming a commission of accounting and computer experts to offer independent advice on the accounting system.
ACCESSION #
9549514

 

Related Articles

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics