The Board of Education shall annually appoint an independent certified public accountant, or an independent public accountant, for audit of the district’s financial records as required by New York Municipal Law. The District shall use a competitive request for proposals (RFP) process when contracting for such annual audit. In addition, no audit engagement shall be for a term longer than five (5) consecutive years; provided, however, that the District, in its discretion, may permit an independent certified public accountant or an independent public accountant engaged under an existing contract for such services to submit a proposal in response to an RFP or to be awarded a contract to provide such services under a RFP process.
The duties of the independent auditor shall be as follows:
- To examine the balance sheet of the school district as at the end of the fiscal year and the related statements of transactions in the various funds for the fiscal year thus ended.
- To conduct such examination in accordance with generally accepted auditing standards and to include such tests of the accounting records and such other auditing procedures as are necessary in the circumstances.
- To render an opinion on the financial statements prepared as at the close of the fiscal year.
- To prepare such financial statements for publication as may be required by law.
- To make such recommendations to the Board concerning its accounting records, procedures, and related activities as may appear necessary or desirable.
- The auditor’s report shall be adopted by resolution and a copy filed with the Commissioner of Education.
- To perform such other related services as may be requested by the Board.
Cross-ref:
6240, Investments
6600, Fiscal Accounting and Reporting
Ref: General Municipal Law §36
Note: Prior policy, Auditor, 9260
Policy Adopted: December 11, 1972
Amended: June 21, 1999
Amended: March 28, 2016