Money issues get dealt with

By Janice Kurbjun
Times staff writer

Working to plug numerous holes in the financial record-keeping process at the Carbon County Higher Education Center, Director Dave Throgmorton and accounts payable clerk Shelly Collier have made progress, certified public accountant Alexandra Wilkinson said in Thursday’s board meeting.

Many of the things she outlined have been addressed by Throgmorton and Collier, while some await attention. However, Wilkinson commended Throgmorton for calling her firm to make efforts toward correcting the holes in the system.

Wilkinson’s firm, Porter, Muirhead, Cornia and Howard, recommended instating a system of checks and balances across the board in every financial process. This would ensure the school’s accuracy with financial records, particularly in the accounts payable department.

“There is no need for more staff,” she said. She encouraged a rotation amongst the staff for performing bank functions and reconciliation of statements.

She said the school’s journals often showed disproportionate revenue or expenses when in fact the net flow was zero. She held the purchase and sale of textbooks and the funds flowing to the Kids Campus or the vocational campus as examples.

Additionally, Wilkinson worried about budget errors and monthly bank deposits. She said that budget errors often occur while comparing actual expenses to budgeted numbers. She recommended streamlining the accounting duties to avoid such errors.

Monthly bank deposits make accounting difficult because if there are errors, accounting must review a significant portion of the books to uncover it. Additionally, the time this process takes can allow for money to go missing, possibly by fraud.