Summary

Our operational audit for the fiscal year ended June 30, 2006, disclosed the following:

Finding No. 1:        The College did not periodically solicit competitive proposals for banking services or otherwise demonstrate the reasonableness of such services (and the cost thereof) being received under its current banking services agreement.

Finding No. 2:       The College’s maintenance inventory includes obsolete items.

Finding No. 3:       The College needed to enhance its procedures for monitoring usage of College-owned motor vehicles.

Finding No. 4:       The College’s procedures for monitoring the food service contractor’s compliance with the terms of a written agreement needed improvement.

Finding No. 5:       The College needed to enhance its records and controls related to Theatre collections.

Finding No. 6:       The College’s procedures over Cosmetology Department collections needed improvement.

Finding No. 7:       The College’s procedures should be enhanced to ensure that terminated employees’ computer access is timely removed.

Finding No. 8:       The College had not completed its implementation of a formal ongoing security awareness program. 

The College’s response is included as Appendix B of this report.