Organizational Principles

Beaver County School District subscribes to the following principles within its policies and procedures culture. Commitment to these principles is necessary at all levels of the district in order for policies and procedures to be effective.

Communication – effective internal controls promotes communication between key team members impacted by each transaction

Compliance – following all required federal, state, grant, and local laws as well as district policies

Safeguarding Public Funds – protecting public funds from loss and abuse and using public funds for the purpose for which intended

Accuracy – accounting records reflect the correct amounts per Generally Accepted Accounting Principles for each transaction

Reliability – accounting records reflect the true nature of each transaction within reason

Complete – accounting records reflect the full nature of each transaction

Timely – accounting records are completed and recorded in a timely manner for decision-making purposes

Consistent – similar transactions are treated in the same way in the accounting system

Verifiable – all accounting transactions are clearly documented and documentation is available for future review

Segregation of Duties – roles and responsibilities are clearly segregated to ensure reasonable internal controls are in place—authorization and approvals, record keeping, custody of assets, monitoring, etc.

Reasonableness (Cost vs. Benefits) – the full cost vs. benefits are considered for all internal control procedures