Policy Code: DIE

Adoption Date: Tuesday, January 27th, 2015

Review Date: Tuesday, June 16th, 2015

AUDITS

In accordance with state and federal statutes, policies, and guidelines, all financial records of the district will be audited following the close of each fiscal year.

The Board will appoint an independent auditor, as approved by the State Auditor's Office, to conduct this audit, which must show all money collected, disbursed, and retained together with receipts verifying money collected and vouchers for money disbursed. The audit must also show a comparison of disbursements with budgeted accounts and must be completed in time to be submitted to the state auditor as required by law following the close of the fiscal year.

The independent auditor will also audit the accounts of each individual school in the district for report to the Board of Education.

Iron District shall have an audit committee. UCA 53A-30-103(1) The Board will appoint two board members to the district audit committee. When the District enrollment exceeds 10,000 students, then three board members will be appointed. In addition to establishing internal controls and reviewing the audit reports with the external auditors, the committee will monitor the internal audit function. When the District enrollment exceeds 10,000 students, the District is required to have an internal audit director and an internal audit function. UCA 53A-30-103(2)(b)