Business Services Action Item

DATE:	Tuesday, May 1, 2018
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Accept the State of Florida Auditor General's Reports 2018-173 and 2018-195, Hillsborough County School District Operational, Financial, and Federal Single Audit, for the Fiscal Year Ended June 30, 2017 (Business Services Division)
EXECUTIVE SUMMARY
District school boards located in Florida are required by Florida law [Section 218.39(1)(d), Florida Statutes] to have an annual "financial audit." Under the Federal Single Audit Act Amendments of 1996 and United States Office of Management and Budget (OMB) Circular No. A-111, district school boards are required to have an annual audit of federal awards. From March 2017 through March 2018, the Auditor General's Office audited the financial statements of the governmental activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund for the Hillsborough County District School Board as of, and for, the fiscal year ended June 30, 2017. The Operational, Financial, and Federal Single Audit disclosed that the district's basic financial statements were fairly presented and there were no deficiencies in internal control over financial reporting considered to be a material weakness.  The results of the Auditor General's tests disclosed no instances of non-compliance or other matters that are included to be reported under Government Auditing Standards. Attached are three reports: Independent Auditor's Report Independent Auditor's Report on Internal Control over Financial Reporting and on Compliance and other matters based on an audit of the Financial Statements performed in accordance with Government Auditing Standards Independent Auditor's Report on Compliance for each major federal program and report on internal control over compliance
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  No)
When we are audited by the Auditor General's Office, there is no financial impact to the school district's budget.
EVALUATION
SUBMITTED BY:  Stephanie Heaton, Manager, District Accounting

Stephanie Heaton		Gretchen Saunders
Manager, District Accounting (813) 272-4292		Chief Business Officer (813) 272-4270
		C 6.05
Hillsborough County Public Schools (Florida) * Mtg.#20180501_871 (Board Meeting followed by Public Hearing) * Section C Item# 6.05