Brooklyn Charter School

Financial Management Practices

Brooklyn Charter School, which was established in 2000, is an elementary school with more than 200 students. We audited the adequacy of the internal controls established by School officials over selected areas of financial operations, and identified significant weaknesses in nearly all the areas we tested. Improvements were particularly needed in the areas of disbursements, payroll, equipment inventory, and financial oversight. We noted that Board of Trustee oversight had been weak since the School’s inception, and without improvement, assets were at risk of misappropriation or misuse.

For a complete copy of Report 2006-N-9 click here.