Audit Report: Nevada Athletic Commission Term Paper

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Inadequate Records: The auditors found that the Commission did not have sufficient records about the evnt fees due from promoters. The lack of documentation prevented the verification of correct amount payable by certain promoters on account of broadcasting rights. To rectify the shortcoming, the report recommends establishment of procedure to ensure prompt deposit of contracts for broadcasting rights etc.

Improper Use of Outside Bank Accounts

The Commission improperly used its outside bank account to deposit unauthorized revenue to pay employee overtime and inspector fees totaling $2,100. These expenditures should have been recorded in the Commission's budget account as the outside bank account is supposed to be used for payments to "licensed officials" such as referees, judges, timekeepers and ringside physicians rather than the Commission employees. The Commission also assessed some promoters for inspector fees and staff overtime despite being not authorized to do so.

The report recommends that promoters should only be assessed for the authorized amounts and the outside bank account should be used strictly for the required purpose.

Unclaimed Cash Deposit

The Commission was found to be holding cash performance deposits totaling $30,000 from promoters who are no longer in business or have not been licensed for more than 3 years. State law requires that the holder of unclaimed property should try to locate the owner, failing which the property should be promptly transferred to the State Treasurer.

The audit report recommends the immediate transfer of the cash to the State Treasurer.

Unreliable Performance Measures The Report found that the Commission had not established procedures for developing performance measures.

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As a result, two out of four performance measures for the fiscal year 2002 reported in the Executive Budget were unreliable. For 2004 and 2005, the performance measures for the number of events regulated and licenses issued and were understated by 18% and 40%, respectively. Such unreliable performance measures can misrepresent the actual results of the Commission's operational and financial activities and affect key budget and policy decisions. The report recommends that proper procedures should be developed to ensure reliable performance measures.

Why was the Audit requested?

The statutory duties of the Legislative Auditor include requesting the performance of audits of various state departments and agencies. The purpose of such legislative audit is to improve the performance of state government agencies by providing the state Legislature, state officials, and the citizens of Nevada with independent and reliable information about the operations of state agencies, programs, activities, and functions. The audit of the Nevada Athletic Commission performed in 2003 by the Legislative Auditor was thus the result of legislation passed by the Nevada State Legislature during the 2003 Legislative Session and subsequently signed into law by the Governor.

Who was this Audit Reported to?

The Audit of the Nevada Athletic Commission was reported to the members of the Nevada Legislature by the Legislative Auditor. Since the legislative audit report is a public document, it is also for information of state officials, and the citizens of Nevada besides the State Legislature to whom it is presented......

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