Audits find APS in excellent financial condition

Atlanta Public Schools was given an excellent bill of financial health by recent state and independent audits of the district’s financial records for the 2010 fiscal year

For the first time in recent memory, the state audit conducted by the Georgia Department of Audits and Accounts Education Audit Division and the independent audit conducted by Mauldin & Jenkins CPA, LLC resulted in no qualifications or findings.  Auditors normally issue qualifications and findings when they uncover issues and concerns during their audits of an organization’s financial records.

The audits, which were finalized earlier this year, demonstrate how much the district has improved its financial controls and record keeping over previous years. In fact, the 2007 independent audit concluded by the State of Georgia Department of Audits and Accounts was issued with four qualifications and 14 findings.  The same audit conducted for fiscal year 2008 and 2009 resulted in no qualifications of opinion and one finding.

“This type of incremental improvement over time is proof positive that improvements put in place over the last few years have been institutionalized and have had positive results,” said Chuck Burbridge, APS chief financial officer.  “Our goal from the beginning was to have zero qualifications and zero findings from state and independent audits of our financial records.  And this year, we achieved that goal.”

APS has been awarded numerous national awards and recognitions for its financial reporting and budget in recent years, including from the Government Finance Officers Association of the United States and Canada and the Association of School Finance Officials International.  Such awards encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare financial reports in the spirit of transparency and full disclosure.

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