GUSD hires firm to review financial records
An accounting firm will conduct a financial investigation into some of Glendale Unified’s fundraising groups, according to a contract the Glendale school board approved Tuesday.
The accounting firm Vicenti, Lloyd & Stutzman responded to a request from Glendale school officials earlier this month to look into groups affiliated with Crescenta Valley High School, according to the contract, including booster clubs, according to Robert McEntire, chief business and financial officer for Glendale Unified.
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FOR THE RECORD
August 5, 6:08 p.m.: A previous version of this story reported that according to a school official, booster clubs and the PTA at Crescenta Valley High School would be audited by the accounting firm Vicenti, Lloyd & Stutzman. However, Glendale Unified Supt. Winfred Roberson Jr. said that the district’s PTA groups will not be not part of the audit
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“The district takes its fiscal responsibility very seriously, and this is the most cost-effective approach to protect the public interest in this area,” he said in an email.
School officials agreed to pay the firm up to $12,500, or $250 per hour, for its services, which will also examine the groups’ policies and procedures for maintaining financial records.
The firm will also review “any improper financial transactions or possible misuse of the funds,” according to a district report.
“The purpose of this engagement is oversight review, and to update our affiliated group documentation to streamline processes for these important groups,” McEntire said. “Using an outside firm is more cost effective than hiring staff to do the same work. As always, we continue to find ways to support the organization at all levels, while keeping our main focus in the classroom and on our students.”
The firm plans to review financial records over the past three fiscal years, including canceled checks as well as bank, income and cash-flow statements, according to the contract.
When the investigation comes to a close, the firm will provide the information to Glendale school officials to determine if the investigation warrants a “Phase II” investigation, according to the contract.
