An Audit Report on Certification of the Permanent School Fund's Bond Guarantee Program Page: 4 of 6
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Summary of Information Technology Review
Overall, the Texas Education Agency's (TEA) information systems that support the
Program appeared to be working properly and enabled the PSF to report Bond
Guarantee Program amounts and limitations accurately. PSF is currently in the
process of loading more detailed Program bond data by individual maturity date into
a new investment accounting system portfolio to provide the amount of interest
accretion on the Program. PSF is also reconciling its old portfolio summary Program
bond issue amounts with its new detailed portfolio Program amounts. Our tests of
reconciliations and financial transactions processed by the information systems for
fiscal year 2002 indicated that the reported Program amounts and limitations were
accurate. As part of obtaining an understanding of internal control relevant to the
audit of the fiscal year 2002 Program, we performed the following information
technology-related procedures:
- Performed general and application control review procedures for the PSF's major
investment information systems and analyzed the investment trading system
- Determined whether the PSF had properly deactivated access to automated
investment accounting and trading systems for terminated employees
- Analyzed reviews of information systems conducted by other parties, such as the
Department of Information ResourcesAttachment
An Audit Report on Certification of the Permanent School Fund's Bond Guarantee Program
SAO Report No. 03-032
April 2003
Page 2
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Texas. Office of the State Auditor. An Audit Report on Certification of the Permanent School Fund's Bond Guarantee Program, report, April 2003; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth518050/m1/4/: accessed May 21, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.