Hillsborough County Public Schools Business
Information Item

DATE: Tuesday, August 18, 2009
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Accept the State of Florida Auditor General’s Report No. 2009-191, Hillsborough County District School Board Financial, Operational, and Federal Single Audit, for the Fiscal Year Ended June 30, 2008 (Business 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-133, the district school boards are also required to have an annual audit of Federal awards.

The Auditor General’s Office audited the accompanying financial statements of the governmental activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining fund information for the Hillsborough County District School Board as of and for the fiscal year ended June 30, 2008.

The Financial, Operational and the Audit of Federal Programs 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 material weaknesses.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

* Demonstrate best financial practices

FINANCIAL IMPACT (Budgeted: No)

When we are audited by the Auditor General’s Office there is not a financial impact to the school district’s budget.

EVALUATION

SUBMITTED BY:

Raymond E. Nicholson
District Accounting Manager
(813) 272-4292
Gretchen Saunders
Chief Business Officer
(813) 272-4270
A 9.02
Hillsborough County Public Schools (Florida) * Mtg.#20090818_359 * Section A Item# 9.02