MONROE - The Internal Revenue Service is taking a closer look at Monroe's books - tax books, that is.
The IRS has only been able to audit school districts for about four years, and has been looking at four to eight Wisconsin school districts per year, Monroe Business Manager Ron Olson said Monday. This year, Monroe is one of the "lucky" districts selected for examination.
There are a several things the IRS looks for specifically in school districts, he said. One example is student employees and another is having employees also serve as contractors, as in the case of a teacher officiating a game. Retirement plans are another area of interest, he said.
Olson was matter-of-fact in announcing at Monday's school board meeting the audit of 2007 information. "They find something in every district," he said. And while the IRS can impose fines for noncompliance, Olson said the agency is mostly interested in getting districts to "take steps to mitigate any concerns."
Audit results are expected in November.
The IRS has only been able to audit school districts for about four years, and has been looking at four to eight Wisconsin school districts per year, Monroe Business Manager Ron Olson said Monday. This year, Monroe is one of the "lucky" districts selected for examination.
There are a several things the IRS looks for specifically in school districts, he said. One example is student employees and another is having employees also serve as contractors, as in the case of a teacher officiating a game. Retirement plans are another area of interest, he said.
Olson was matter-of-fact in announcing at Monday's school board meeting the audit of 2007 information. "They find something in every district," he said. And while the IRS can impose fines for noncompliance, Olson said the agency is mostly interested in getting districts to "take steps to mitigate any concerns."
Audit results are expected in November.