Action Item
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Business
Action Item |
| DATE: | Tuesday, January 12, 2016 |
| TO: | School Board Members |
| FROM: | Jeff Eakins, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| Approve the Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2015 (Business Division) | |
| EXECUTIVE SUMMARY | |
| On September 8, 2015, the unaudited Report of Financial Data was submitted to the Board for approval and subsequently sent to the Florida Department of Education, as required by law. On November 17, 2015, the unaudited Report of Financial Data to the Commissioner of Education (ESE 348 and ESE 145) were submitted to the Board for approval and subsequently sent to the Florida Department of Education, as required by law. The CAFR submitted here is the district’s audited financial statements.
Last year, the CAFR was submitted to the Government Financial Officers Association (GFOA) for evaluation and received the national Certificate of Achievement for Excellence in Financial Reporting (Certificate). This was the 14th year the CAFR has received this award. In order to achieve the Certificate, the financial statements must be audited prior to evaluation. In addition, the data in the ESE 348 and ESE 145 must be expanded to include an introductory section, the auditor’s opinion letter, and a statistical section. Also the financial section must be added to and configured differently. The CAFR must contain audited statements of component units. The final bound version, including School Board approval and the opinion letter from the auditor, will be sent to GFOA for review before the end of month deadline. The attachment for this agenda item is pending and will be added as soon as it is available. |
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| STRATEGIC OBJECTIVES | |
| FINANCIAL IMPACT (Budgeted: No) | |
| The district’s Central Printing Department provides the covers, paper, printing, and binding of this report at a cost of $520. Historically, we incur approximately $80 in postal costs to mail the CAFR to the appropriate financial institutions. The cost to submit the CAFR to GFOA is $1,095. The funds for these costs are available in the Accounting Department’s budget. | |
| EVALUATION | |
| SUBMITTED BY: | |
| Stephanie Heaton | Gretchen Saunders | |
| Manager, District Accounting (813) 272-4292 |
Chief Business Officer (813) 272-4270 |
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| C 6.03 | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20160112_751 (Board Meeting) * Section C Item# 6.03 | ||