April 17, 2009

School board tables compliance audit issues

School board tables compliance audit issues
Parshall School Board members, teachers and patrons of the district listened intently Tuesday night when Superintendent Steve Cascaden read a letter regarding a final report of a compliance audit of retirement salaries reported to the Teachers’ Fund for Retirement.
In the letter addressed to Cascaden, Fay Kopp of the North Dakota Retirement and Investment Office in Bismarck stated retirement salaries reported by the district during the audit period were not in compliance with TFFR’s definition of retirement salary as it appears in the North Dakota Century Code.
Kopp said there are errors and inconsistencies and the audit findings resulted in a net overpayment of member and employer contributions of $4,878.86. TFFR will refund the overpayment to the district and it is the district’s duty to refund the correct amounts to members.
In an accompanying report of findings that begin with the 2005-06 school year, eight separate items are listed. They include ineligible salaries for officiating games, ineligible salary for reimbursement of expenses, ineligible salary for ticket taking, ineligible salary for unused leave, ineligible retirement bonuses/additional salary increases made in anticipation of retirement, ineligible special grant writing payments, ineligible salaries and finally, reporting eligible salary for 2006-07 in the wrong fiscal year.

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