Annual Audit and Trial Balance. The School will undergo an independent financial audit conducted in accordance with governmental accounting standards and GASB #34 performed by an independent certified public accountant each fiscal year. The results of the final audit will be provided to the Institute by October 31 of each year. The School will pay for the audit. In addition, the School will transmit the final trial balance to the Institute using the CDE chart of accounts by October 31 of each year. If such audit and final trial balance is not received by the Institute by October 31, such failure will be considered a material breach of Contract and the School will have 10 business days, or such other time as the parties may mutually agree, to cure such breach.
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Samples: Charter School Contract, Charter School Contract, Charter School Contract