View Mobile Site

Ask the Expert

Signal Photos


Hart selects new audit firm

Posted: February 21, 2008 11:45 p.m.
Updated: April 24, 2008 5:02 a.m.
The Hart district governing board voted this week to select a new audit firm to perform the mandatory Measure V performance audit.

The firm of Vicenti, Lloyd & Stutzman will perform auditing services of Measure V expenditures for the fiscal years ending June 30, 2007, 2008 and 2009. The firm was recommended by an ad hoc sub-committee consisting of board members Dennis King and Steve Sturgeon, district staff members Sue Guthrie and Rob Gapper and appointed citizen member James Hicken, president of Bank of Santa Clarita.

The William S. Hart Union High School District's former auditing firm, Moss Adams, had already started the 2006-07 audit a year ago, but was asked to stop when the board decided to put out a bid for the job. Moss Adams found in its 2005-06 audit that the district could not provide proof of complete compliance with Measure V and Proposition 39 funding source requirements due to transfers between accounts that were not properly documented.

The board selected the new firm at its Wednesday night meeting.

Board member King, a certified public accountant and managing partner of an accounting firm in Burbank, said that the funds in question simply went in and then out of another account, and that all Measure V funds were used appropriately.

"This year, (Moss Adams) decided they couldn't confirm that we used Measure V funds appropriately," King said. "They didn't say we misused the funds, they just couldn't confirm our compliance."

King said he has talked to auditors at every conference he has been to since Moss Adams presented its audit results in October, and everyone he spoke to agreed that the Moss Adams complaint had no merit.

"(Moss Adams) told the community that they can't tell one way or the other - well, they can tell," King said.
According to King, the new firm has more experience with performance audits than Moss Adams, and is also less expensive.

Vicenti, Lloyd & Stutzman has 53 years of experience in the educational and bond finance arenas and has expertise working with local education agencies providing in-depth Proposition 39 financial and performance audit services.

"This is their specialty and they can do the audit very efficiently," King said. "So we get more experience for less money."


Most Popular Articles

There are no articles at this time.
Commenting not available.
Commenting is not available.


Powered By
Morris Technology
Please wait ...