Corrective Action Plan

Problem Findings Management Response

Status of Corrective Action

Profit/Loss Statements

•Not preparing profit/loss statements•Untraceable expenditure

•Generate a standard profit and loss form•Train all personnel•Meeting conducted at the beginning and closing of the school year•Signed contract for stakeholders confirming accountability

Sales Tax •Six instances were sales tax wasn’t paid

•Professional Development on using Excel for student treasurers and club advisors•Have a reference card regarding sales tax laws•Report expenditures to designated staff treasurer

Receipts •Twenty nine instances deposited late

•Provide original receipts to designated staff member•File copy of receipt•Convert original receipt to PDF file for electronic filing purposes

Disbursements •Sixteen instances were payments were made from a fax or copy

•Refer back to receipt action plan•Any disbursement without original receipt needs to be approved by the building principal

Profit and Loss Statements Generate a standard profit and loss

form Train all personnel Meeting conducted at the beginning

and closing of the school year Signed contract for stakeholders

confirming accountability

Sales Tax Professional Development on using

Excel for student treasurers and club advisors

Have a reference card regarding sales tax laws

Report expenditures to designated staff treasurer

Receipts Provide original receipts to

designated staff member File copy of receipt Convert original receipt to PDF file for

electronic filing purposes

Disbursements Refer back to receipt action plan Any disbursement without original

receipt needs to be approved by the building principal