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YELLOW SHEET Office of the State Auditor of Missouri |
Report No. 2000-38
May 24, 2000
The following problems were discovered as a result of a review conducted by our office of the Fixed Assets Equipment.
We tested fixed asset equipment records of the sixteen executive departments as of June 30, 1999. Based on our tests, we reached the following conclusions:
Some departments' equipment records were not accurate or complete.
Some departments did not properly record assets purchased in the fixed asset records.
Some departments could not physically locate equipment items that were listed on the records. In many instances, the department did not know why the items were missing.
Some departments do not record equipment transactions in a timely manner, which increases the likelihood of errors or omissions in the records.
Some departments did not perform adequate annual physical inventories of equipment items.
Some equipment acquired by lease purchase agreements was not recorded in accordance with state policy and generally accepted accounting principles.
Some departments did not report accurate information to the Office of Administration (OA) for inclusion in the state's comprehensive annual financial report. For example, equipment items totaling $3,042,000 that were recorded on the Division of Job Development and Training equipment records were not reported to the Office of Administration (OA) for inclusion in the state's annual financial report. These assets are located at the offices of Service Delivery Areas throughout the state. Furthermore, record keeping or valuation problems prevented some other departments from reporting accurate equipment balances to the OA.
Departments reviewed in this audit include the following:
Office of Administration, Revenue, Elementary and Secondary Education, Higher Education, Agriculture, Insurance, Conservation, Economic Development, Labor and Industrial Relations, Natural Resources, Transportation, Public Safety, Mental Health, Social Services, Health, and Corrections.
