BUSINESS PROCEDURES

 

Series 800

 

Policy Title: Audit Committee                                        Code No.: 824.1

 

The board recognizes that it is charged with raising tax revenues and related expenditures to maintain the educational program for the school district.  Public funds are held in trust by the board to be spent appropriately on the educational program.  To further ensure funds are spent appropriately, the board establishes an audit committee to assist the board on internal financial matters and with the annual audit.  

The audit committee is comprised of two board members, the superintendent and the Director of Business Affairs. 

The audit committee may at their discretion select a chair.
The major responsibilities of the audit committee are to:

• Recommend an auditor to the board at least every three years
• Oversee the selection of the independent auditor and the resolution of audit findings including compliance with the mandatory request for proposal process. 
• Act as a liaison between the board and the auditor during the audit process.
• Annually report to the board about the annual audit.
• Recommend internal changes that may need to be made to ensure appropriate internal controls are being implemented.

   
The audit committee will meet as directed by its' chair.  The audit committee is subject to the open meetings law.

 

Date of Adoption/Review/Revision:

August 2024