We are always grateful for the trust our donors place in Lake Tahoe Shakespeare Festival (LTSF). We take seriously our responsibility to safeguard the resources entrusted to us.
Independent Audit
LTSF undergoes an independent financial audit every year. Our auditors review our financial statements and internal controls, and their process includes fraud-related interviews with staff.
Separation of Duties
No one person controls a financial transaction from beginning to end. Different individuals are involved in receiving funds, recording transactions, approving payments, and reconciling accounts. Donations, for example, pass through several different hands from receipt and recording through acknowledgment, accounting, review, and ultimately audit.
Oversight
Our finances are reviewed regularly by our Director of Finance, outside CPA, Executive Director, Board Treasurer, Finance Committee, and full Board. Bank reconciliations are completed monthly by our Director of Finance and independently reviewed by our CPA. Significant expenditures also require additional levels of approval, including Board involvement for our largest payments.
Transparency
LTSF’s Form 990 and audited financial statements are publicly available. Our Form 990 is prepared with our outside accounting professionals and reviewed by the Board before filing.
If you have any additional questions or concerns, our Executive Director, Joe Atack (joe@laketahoeshakespeare.com), would be happy to connect with you directly.
