Columbus – Board members of the Cincinnati College Preparatory Academy (Hamilton County) failed to follow their own compensation policy during a three year period, resulting in improper overpayments totaling $2,325, according to audit reports released today by Auditor of State Dave Yost.
“Governance of a school starts with the board itself,” Auditor Yost said. “Watching the checkbook and complying with your own policies are among the first things the board must do.”
Although Ohio law allows board members to be paid a maximum $125 per meeting attended, the board had authorized only $100 per meeting. During the subsequent three years, the school paid board members more than the amount authorized by the board and for more meetings than they actually attended.
In addition to the overpayments, the community school was also cited for a number of bookkeeping and operating failures, including a lack of management controls to ensure accurate financial statements, a lack of a records retention policy, paying expenses for children who accompanied their parents to a professional conference, spending federal grant fund for purposed not allowed by the grant, lack of documentation for certain grant expenses, and a treasurer who lacked a bond. The audits also cited failures to make required contributions to state retirement funds and the failure to have a required number of board members.
A full copy of this audit can be found online.
The Auditor of State’s office, one of five independently elected statewide offices in Ohio, is responsible for auditing more than 5,600 state and local government agencies. Under the direction of Auditor Dave Yost, the office also provides financial services to local governments, investigates and prevents fraud in public agencies and promotes transparency in government.