Annual Audits. Each fiscal year, the School shall provide for an independent annual financial audit conducted in accordance with Generally Accepted Auditing Standards and Governmental Auditing Standards and performed by a certified public accountant (CPA); provided the Commission may establish an alternative reporting requirement in accordance with State law. The Commission shall provide the guidelines and/or scope of the audit or alternative report and may require minimum CPA qualifications or that the School select from a list of qualified CPAs as provided by the Commission. The School shall provide the completed audit or alternative report to the Commission by November 15 after the conclusion of the fiscal year; provided that the Commission, with reasonable notice to the School, may change the deadline depending on circumstances. The School shall pay for the audit or alternative report if an appropriation is not made by the Legislature for such purpose.
Annual Audits. Each fiscal year, the School shall provide for an independent annual financial audit conducted in accordance with Generally Accepted Auditing Standards and Governmental Auditing Standards and performed by a certified public accountant (CPA). The Commission shall provide the guidelines and/or scope of the audit and may require minimum CPA qualifications or that the School select from a list of qualified CPAs as provided by the Commission. The School shall provide the completed audit to the Commission by November 15 after the conclusion of the fiscal year; provided that the Commission, with reasonable notice to the School, may change the deadline depending on circumstances. The School shall pay for the audit if an appropriation is not made by the Legislature for such purpose.
Annual Audits. Each fiscal year, the School shall provide for an independent annual financial audit pursuant to HRS §302D-32. The School shall submit the completed audit by November 1 of each fiscal year. The Commission, with reasonable notice to the School, may change this deadline depending on circumstances that allow adequate time for the Commission to meet federal and state financial reporting requirements.
Annual Audits. The School agrees to pay its proportionate share of the district’s annual audit expense and to budget an appropriate amount annually for purposes of conducting the School’s annual audit.
Annual Audits. If the Contractor expends federal funds from all sources (direct or from pass-through entities) in an amount of $750,000 or more during its fiscal year, then the Contractor shall have an audit of that fiscal year in accordance with Office of Management and Budget (OMB) Circular A-133 (Audits of States, Local Governments, and Non-Profit Organizations). If the Contractor expends federal funds received from the State in an amount of $750,000 or more during its fiscal year, then the Contractor shall furnish one (1) copy of the audit report(s) to the State’s Internal Audit Office within thirty (30) calendar days after the Contractor’s receipt of its auditor’s report or nine (9) months after the end of the Contractor’s audit period, whichever is earlier. If (an) instance(s) of noncompliance with federal laws and regulations occurs, then the Contractor shall take all appropriate corrective action(s) within six (6) months of the issuance of (a) report(s).
Annual Audits. The School agrees to pay its proportionate share of the district’s annual audit expense and to budget an appropriate amount annually for purposes of conducting the School’s annual audit. The School does not have an associated not-for-profit foundation that is designated as a component unit of the School.
Annual Audits. The books of account and records of the Trustees, including the books of account and records pertaining to the Fund and the Separate Accounts, shall be audited at least once every year by the auditor of the Fund, which shall be appointed by the Trustees, as of the fiscal year end of the Fund. A statement of the results of the annual audit shall be available for inspection by interested persons at the principal office of the Fund and at such other suitable place as the Board of Trustees may designate from time to time. Copies of such statement shall be delivered to each Trustee within sixty (60) days after that statement is prepared.
Annual Audits. GOVERNING BODY of CHARTER SCHOOL shall cause an annual audit to be made using the same audit format as used by Shelby County Schools. Said auditors employed by CHARTER SCHOOL shall be certified public accountants who audit the accounts and records, including internal school activity and cafeteria funds, of CHARTER SCHOOL, in compliance with and as required under Tenn. Code Xxx. §00-00-000. CHARTER SCHOOL shall maintain internal school activity and cafeteria funds in accordance with the laws of Tennessee and Rules and Regulations of the Tennessee Department of Education, and CHARTER SCHOOL shall handle all costs related to causing said audit to occur. Said annual audit shall be completed as soon as practical after June 30th of each fiscal year of CHARTER SCHOOL, but in any event, no later than the date set by the State’s Comptroller after such fiscal year, and a copy of such audit shall be furnished to AUTHORIZER, and to the extent required by applicable law, to the special joint oversight committee on education, the Commissioner of Education, and the Comptroller of the Treasury. All of said audits shall be subject to, be prepared in accordance with, and be approved by, the Comptroller of the Treasury in accordance with the Act. Said CHARTER SCHOOL shall comply with Governmental Accounting Standards Board (“GASB”) Statements, if and when applicable, and audit shall be in a AUTHORIZER approved format for a public school and not for a non-profit corporation. Should the audit not comply with this paragraph, AUTHORIZER reserves the right to require CHARTER SCHOOL to use the same auditors that it uses until the conclusion of this Agreement. The annual audit shall contain at least the following information:
1. The same information and format required in the reports prepared by local boards of education pursuant to state laws, rules and regulations; and
2. Financial records of CHARTER SCHOOL, including revenues and expenditures. CHARTER SCHOOL shall at all times, and shall cause its employees and representatives at all times, to cooperate with the Comptroller of the Treasury with respect to all audits, and shall permit the Comptroller of the Treasury, as provided in Tenn. Code Xxx. §00-00-000, to audit any books and records, including internal school activity and cafeteria funds, of CHARTER SCHOOL. SPONSOR, on behalf of itself and CHARTER SCHOOL, acknowledges and agrees that CHARTER SCHOOL is subject to state audit procedures and audit requirements to the extent r...
Annual Audits. The Charter School shall cause a Financial Statement Audit and Financial and Administrative Procedures Controls Review (collectively, the “Financial Audits”) to be performed annually at its expense by an outside independent auditor retained by the Charter School, reasonably acceptable to the Board, and approved by General Counsel for the Board. The Financial Audits shall include, without limitation:
i. An opinion on the financial statements (and Supplementary Schedule of Expenditures of Federal Awards, if applicable);
ii. A report on compliance and on internal control over financial reporting based on an audit of financial statements performed in accordance with Government Accounting Standards; and
iii. A report on compliance with requirements of applicable laws and regulations as set forth in Section 6 of this Agreement and as otherwise specified in the Charter Schools Law.
iv. A report on the compliance with the requirements of this Section 6 including, but not limited to the requirements that the Charter School refrain from commingling funds, that the Charter School report interested transactions, and that the charter report actual student attendance. The Financial Audits shall be provided to the Board no later than November 1 of each year during the term of this Agreement, excepting reasonable delay.
Annual Audits. The Organization shall annually prepare a comprehensive financial report on operations and activities for the fiscal year defined as January 1 through December
