Langley High School Procurement Card Audit

Langley High School Procurement (Credit) Card Audit May 2008 “promoting an efficient & effective school division” Executive Summary Our review of Langley High School’s procurement (credit) cards revealed that the overall control environment appeared adequate. In general, expenditures appeared reasonable, properly approved, and supported by appropriate documentation. In addition, the procurement (credit) cards appear to be in compliance with Regulation 5350.2 Finance Office Procurement (credit) Card Management for Appropriated Funds (effective 06-16-03). Areas where controls could be strengthened are: • Supplemental student materials should be properly approved • Reconciliations should be signed and dated • Paid invoices should be cancelled by stamping or writing “paid” to prevent duplicate payment • Inactive cards should be closed to limit the risk of impropriety Background The purpose of the Fairfax County Public Schools’ (FCPS) procurement (credit) card program is to provide an efficient, reliable method of procurement to acquire needed goods and services in a timely and efficient manner. While the use of a procurement card can simplify and expedite procurement, its use requires strict adherence to internal control procedures and a commitment to accompanying accounting procedures. In most cases, card use reduces staff procurement efforts and shortens delivery time; however, it increases the need for financial tracking and ...