YEAR END FINANCE AUDIT REPORT

The Year-End audit was conducted virtually on Wednesday, September 2, 2025, using Toastmasters International Audit Committee Guidelines. The following Toastmaster members participated in the audit:

Role	Name
Audit Committee Chair	Tim Lemon, VC2
Audit Committee Member	Jose JZ Zurita, DTM
District 50 Finance Manager 2025-2026	Jaya Eripilla

Results:

The audit committee has provided an independent and objective assessment for the District 50 Year-end review and determined the result is Satisfactory.

• All documentation was available for the audit team members to review in the D50 Finance Google Drive folder, organized by month.
• All transactions in the Bills, Receipt, and Check Registers agreed to the bank statements and were supported by appropriate documentation.
• Expenses over $500 had approvals that were received prior to issuing payment.
• District finances followed Toastmasters International financial policies and protocol as business purpose consistent with the district mission.

Comments:

The district continues to follow best practices that allow for efficient accounting processes:

• Payment processing is managed via Concur, a third-party expense processing software, to expedite reimbursement requests for purchases made by the district efficiently. Observations made from Audit recommends the following for District 50:
  • District to establish and follow best practices of entering Concur requests (ex: within 30 days of incurring expense) to avoid entries in arrears and delayed reimbursements.
  • District to consider alternatives to physical checks for reimbursement requests to lessen the risks that may emerge with physical check handling.
• Concur District account expenses are streamlined and automated into Intacct accounting system allowing for fewer expense entry steps.

Conclusion:

In our opinion, the Year-end Profit and Loss Statement dated 6/30/2026 (Actual vs Budget) presents fairly, in all material aspects, the financial position of District 50 in accordance with the Toastmasters International Audit Committee Guidelines.

Jaya Eripilla is to be commended for her service to the Finance Manager role and attention to detail, financial file organization, and responsiveness regarding the district’s finances and District 50 leaders for responsible management to the 2025-2026 district budget.