Report 2014-135R Recommendation 11 Responses

Report 2014-135R: Magnolia Science Academies: Although the Financial Condition of These Charter Schools Has Improved, Their Financial Controls Still Need to Be Strengthened (Release Date: May 2015)

Recommendation #11 To: Magnolia Educational and Research Foundation

To safeguard the funds that the academies raise, the Foundation should ensure that academy staff follow the fundraising procedures in its accounting manual, especially with regards to timeliness of bank deposits and sign-offs on cash-count forms. The Foundation should also annually train its staff to ensure compliance with fundraising procedures.

6-Month Agency Response

As of June 30, 2015, the organization has trained all school principals in regards to current fundraising procedures. This training will be conducted on an annual basis, and includes the review oversight of the finance department.

California State Auditor's Assessment of 6-Month Status: Fully Implemented


60-Day Agency Response

As of June 30, 2015, the organization has trained all school principals in regards to current fundraising procedures. This training will be conducted on an annual basis, and includes the review oversight of the finance department.

California State Auditor's Assessment of 60-Day Status: Pending

Although it claims that it has fully implemented this recommendation with staff training on fundraiser procedures, the Foundation--despite our requests that it do so--has not provided us with evidence to substantiate its claim.


All Recommendations in 2014-135R

Agency responses received are posted verbatim.