GDOE Still Considered High-Risk Despite Clean Audit for FY15

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A compliance report will be issued sometime next week.

Guam – The Guam Department of Education still remains in high-risk grantee status, according to the Office of Public Accountability.

 

The OPA just released a recent audit of the Guam Department of Education in which independent auditors Deloitte & Touche issued an unmodified or clean opinion on GDOE’s financial statements. However, GDOE still remains in high-risk grantee with the U.S. Department of Education and has been for the past 13 consecutive years. GDOE closed Fiscal Year 2015 with a $332 thousand dollar increase in fund balance. GDOE’s financial highlights include: The number of employees increased by 192 – salaries and benefits, including retirement and retiree healthcare benefits represent 71% of GDOE’s expenditures and GDOE has several capital lease agreements for schools and properties that total $232 million.

OPA Auditor Jerrick Hernandez says, “Independent auditors Deloitte & Touche also issued a management letter containing six findings, some related to procurement policies for bidding time where there is a difference, where there also controls needed to verify that disposals and construction in progress are timely reported, and also providing education relative to competitive procurement, adequacy of disbursement documentation, receipt preparation, timely bank deposits and performance of periodic ban reconciliations for non-appropriated funds.”

OPA Auditor Jerrick Hernandez explains that a compliance report will be issued sometime next week.