Action Item
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Business
Action Item |
| DATE: | Tuesday, January 21, 2014 |
| TO: | School Board Members |
| FROM: | MaryEllen Elia, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| Accept the Annual Audit of the District's Financial Statements from KPMG, LLP for the Fiscal Year Ending June 30, 2013 (Business Division) Revised Attachment B | |
| EXECUTIVE SUMMARY | |
| The district is required to be audited annually. For the fiscal year ended June 30, 2013, the district was audited by the firm of KPMG, LLP. The Board approved the Comprehensive Annual Financial Report (CAFR) on December 10, 2013, which included the independent auditor’s opinion on the district’s financial statements.
The balance of the process includes the management letter, auditor’s report on compliance and internal controls, auditor's report as required by OMB Circular A-133, which is the audit of federal awards, and the communication to those charged with governance, as required under Auditing Standard 114. There were no significant deficiencies or material weaknesses to be reported on the district’s financial reporting. Also included is a copy of the opinion letter from the CAFR. |
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| STRATEGIC OBJECTIVES | |
| • Demonstrate best financial practices | |
| FINANCIAL IMPACT (Budgeted: Yes) | |
| The cost of the audit was $278,500. | |
| EVALUATION | |
| SUBMITTED BY: | |
| Ed Nicholson | Gretchen Saunders | |
| Manager of District Accounting (813) 272-4292 |
Chief Business Officer (813) 272-4270 |
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| A 6.07R | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20140121_624 (Board Meeting) * Section A Item# 6.07R | ||