<body><div>Complete our Reader Survey for a chance to win a CTNewsJunkie mug on Nov. 11! ➔ ➔ ➔ TAP THIS RIBBON! Complete our Reader Survey for a chance to win a CTNewsJunkie mug on Nov. 11! ➔ ➔ ➔ TAP THIS RIBBON!<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0QNrLn_1GpxRetV00" alt="https://img.particlenews.com/image.php?url=0QNrLn_1GpxRetV00" width="1200" height="900" ><figcaption>Credit: Contributed / SERC</figcaption></figure>HARTFORD, CT – The State Education Resource Center (SERC) underreported its vendor expenditures by $13.7 million to the state comptroller, leading to incorrect information in a state database, a recent audit has found.This has been a recurring issue at SERC, auditors noted in their report. The quasi-public agency assists the State Board of Education with programs promoting educational equity and excellence. They include training, technical assistance, and professional development. Covering fiscal years 2023 and 2024, the audit found six deficiencies. Three were repeat findings from prior audits. SERC also failed to review and approve 69 of 72 bank reconciliations, auditors said. It didn’t comply with statutory reporting requirements. Nor did it take a physical inventory or reconcile its inventory list with its accounting system. SERC blamed some of the issues on “a period of turnover within the fiscal department.” Its chief financial officer position sat vacant, and the person hired to fill it left abruptly soon after. Agency officials said they have since reviewed and reconciled financial reports. “SERC acknowledges that the expenditure information submitted for inclusion in the State Open Checkbook database was not sufficiently reviewed to ensure its accuracy and completeness,” officials said in their audit response. “SERC recognizes the importance of accurate and complete expenditure reporting and has implemented strengthened internal controls over the State Open Checkbook reporting process.” <h2>Audit Also Flags Late Financial Reports At SERC</h2>The agency also failed to submit an annual report with full financial statements, auditors said. The report goes to the governor and the Auditors of Public Accounts. That can lead to financial penalties and increases the risk of fraud, they noted. “The State Education Resource Center should prioritize financial statement and federal single audit reporting to ensure timely submission in accordance with federal requirements,” auditors said. Officials attributed the delayed audit filings to a lack of funding. They said staff retention might improve if SERC could pay a CFO or finance director more. “SERC became a quasi-public in 2014 without an established funding line other than the discretionary funds we receive from the State Department of Education,” agency officials said. “Despite several years of advocacy at the legislative level, this remains a challenge.” SERC said it has submitted the missing audits. It also said it has amended its agreement with its current auditing firm to conduct audits for 2025, 2026, and 2027. Besides training, the agency maintains a state education resource center library and publishes technical materials. It also writes, manages, administers, and coordinates grants. </div></body>

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HARTFORD, CT – The State Education Resource Center (SERC) underreported its vendor expenditures by $13.7 million to the state comptroller, leading to incorrect information in a state database, a recent audit has found. This has been a recurring issue at SERC, auditors noted in their report. The quasi-public agency...

Audit: SERC Underreported Expenses By $13.7M

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HARTFORD, CT – The State Education Resource Center (SERC) underreported its vendor expenditures by $13.7 million to the state comptroller, leading to incor

Audit: SERC Underreported Expenses By $13.7M

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