By SUE ELLEN ROSS – Staff Reporter

RESERVE – A comprehensive report of the St. John Parish School System shows no improprieties in its internal controls. It also states that the public school system is financially stable.

The summary was recently presented to school board members by executive business director Felix Boughton. He stated that the school system is in compliance with applicable regulations and laws, including federal award programs. “The results of the audit for the year ending June 30, 2003, disclosed no material internal control weaknesses or material violations of laws and regulations,” he said.

The report meets the requirements of the Association of School Business Officials (ASBO) and the Government Finance Officers Association (GFOA) of the United States and Canada, and has been submitted to both for recognition for financial reporting excellence.

The St. John Parish school system has received the GFOA Certificate of Achievement of Excellence in Financial Reporting for the past seven years; and the ASBO Certificate of Excellence in Financial Reporting for the past eight years.

“We believe our report could once again be eligible for each of these certificates. It’s become my own personal challenge to continue our positive winning streak,” said Boughton. “I believe the recognition awarded to our school system speaks loudly about the fact that we’re doing it right.”

The audit of the school system was completed by Rebowe & Company, APC, an independent certified public accounting firm, as required by state law.

A clean report was given by the auditors, citing only two observations to strengthen internal controls related to asset inventory lists and travel expenses.

Also in Boughton’s report, it was stated that the major concern of the school system, regarding its financial activity, is a recent decline in sales tax revenue.

These revenues declined by approximately 9 percent between the 2000-01 school year and the 2001-02 school year. The downward trend seemed to continue into the 2002-03 school year.

Although these declines come at a time when the school systems’ health care and retirement costs are increasing, the system is doing well, due to the school board’s responsible management over the past few years, Boughton added.

“However, we are closely watching our economy and hoping for improvement soon.”