Covering Louisiana

Apr 5, 2014 2:36 PM by AP

Audit notes progress in arts society accounting

METAIRIE, La. (AP) - The Jefferson Performing Arts Society has resolved many of its accounting deficiencies but needs tighter control over cash receipts, according to an audit by the Louisiana legislative auditor's office.

Nola.comThe Times-Picayune reported the audit, released Monday, was done by the accounting firm Ericksen Krentel & LaPorte.

The audit recommends the nonprofit arts organization prepare daily cash receipts, deposit tickets and donation acknowledgment letters.

In its response to the finding, the society pledged to revise its cash receipts policies on sponsorships and donations.

In fiscal year 2013, the got more than $1.1 million - more than half its total revenue - in government grants and auto rental taxes, according to the audit.

The total included a $425,000 grant from Jefferson Parish, which conducted its own audit of the organization last year.

The parish's internal audit department returned 21 findings in January of 2013, concluding the organization could not assure it was properly using parish funds.

The organization addressed those findings to the parish's satisfaction within three months, according to Ericksen Krentel & Laporte.

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