Professor Elam

The long awaited  audit report from Deloitte on DISD has been presented, and it is not pretty.  Clearly the report was delayed until after the $1 B + bond election, which passed.  Click to read the DMN article.  Numerous control failures were cited by the new audit firm which replaced KPMG, another of the big four firms in the world.  As the timeline shows, DISD blew through numerous CFOs over the last few years.  The failure to balance subledgers to the main ledger, perform bank reconciliations, account for grant money, the appointment of outside consultants.The consultants say it will take three years to get things corrected. My take, gee Jimmy Johnson went from 1-15 to the Super Bowl in three years and we won WWII in four. This is accounting not the Super Bowl.  Simply acknowledging that things are bad and we should do better is hardly an adequate response from the Superintendent or the Board.  The article notes that there are less than five CPAs on the entire staff to handle the $1 billion budget.

We are studying school communication in EDAD 5610 and accounting in ACCT 5020. This is a perfect case for both classes.  Please , if you have not, get to  the store and buy a copy of the Friday Dallas Morning News. This is a keeper. As a communication event this is worth studying.  AS an accounting event this is a disaster of Titanic Proportions.  Interestingly there is a photo of teachers protesting about their lack of a raise, apparently they were not inside listening to the report.

DLE