Internal Control Risk Assessments is the primary service offered to School Districts and Board of Cooperative Educational Services ("BOCES") by Michael Wolff Advisory Services. The Risk Assessment is completed through interviews of key personnel, internal control questionnaires (ICQ's), and through a review of policies, procedures and Board of Education minutes. Typical areas reviewed during the Risk Assessment process include:
Cash Management
Purchasing/Receiving
Buildings & Grounds
Information Technology
Human Resources
Payroll
Transportation
Cafeteria Operations
Budgeting & Reserves
Investments
Fixed Assets
Outsourced Operations
Claims Auditor Duties
Medicaid
Extra-classroom Activities
Focus Areas
A focus area is an internal control review of at least one specific area which is required annually along with the Risk Assessment. However, based upon the size of the District and priorities of the Board of Education, more than one functional area may be selected. The review of the focus area is usually performed by selecting a sample of transactions and reviewing them for completeness, accuracy, authorization, accounting treatment, and compliance with policies, procedures and, or, regulation. Areas typically selected for the focus area are payroll, cash receipts, cash disbursements, bank reconciliations, extra-classroom activities, café operations or information technology. However, Michael Wolff Advisory Services will work with the Board of Education to review any area requested.
Claims Auditing
Claims Auditing provides the required review of all non-payroll related disbursements of the school district to ensure they are in compliance with General Municipal Law, State Education Law, district purchasing regulations and the requirements of any State, Federal or local Grants. Michael Wolff Advisory Services provides independent, professional, and organized reviews of district claims. In addition to reviewing claims, Michael Wolff Advisory Services works with the Accounts Payable staff and the business leaders to improve the purchasing and payment functions where applicable and reports all activity to the Board of Education.
Training Michael Wolff Advisory Services can provide training to business office staff, educators and administrators, as well as students. Past topics have included extra-classroom activity funds ("ECAF"), claims auditing procedures, and purchasing procedures. Classes can range from thirty minutes to full day seminars depending on your district's needs. Training can be provided to single individuals on up to large groups. Michael Wolff has been a regular speaker at the New York State Association of School Business Officials - School Business Management Workshop held in the fall each year.