|
|
|
|
|
|
|
|
|
Meeting Date:
|
9/30/2021 - 6:00 PM
|
|
Category:
|
Future Action Item(s)
|
|
Type:
|
Info
|
|
Subject:
|
Upcoming Financial Reports: Annual Financial Audit and Financial Integrity Rating System of TEXAS (FIRST) Report and Public Hearing
|
|
District Goals:
|
Goal 1 Thriving Students Goal 2 Engaged Community Goal 3 Empowered Staff
|
|
Enclosure
|
|
|
File Attachment:
|
|
|
Summary:
|
Each year, school districts must have their annual financial and compliance report audited by an independent auditor. The resulting annual financial and compliance report must then be submitted to TEA for review.
Each school district is also required to report information and financial accountability ratings to parents and taxpayers by implementing the following reporting procedures:
1. Each school district is required to prepare and distribute an annual financial management report.
2. The public must be provided an opportunity to comment on the report at a public hearing.
|
|
Budgetary Impact:
|
There is no expense to present the Comprehensive Annual Financial Report. The District does however, contract with the independent auditor annually to be in compliance per TEA.
There is no expense for the FIRST report.
|
|
Recommendation:
|
The District will introduce the auditors from Weaver at the October Board meeting and they will present the Comprehensive Annual Financial Report at that time.
The District will also hold a Public Hearing at the October Board meeting to discuss the FIRST report.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Stacey Adrian - Chief Financial Officer
|
|
|
Signed By:
|
|
|
Michael McFarland - Superintendent
|
|
|
|
|
|
|
|
|