HCPS FL Logo Business
Action Item
DATE: Tuesday, March 29, 2016
TO: School Board Members
FROM: Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Accept the Annual Audit of the District's Financial Statements from KPMG, LLP for the Fiscal Year Ended June 30, 2015 (Business Division)
EXECUTIVE SUMMARY
The district is required to be audited annually.  For the fiscal year ended June 30, 2015, the district was audited by the firm of KPMG, LLP.  The Board approved the Comprehensive Annual Financial Report (CAFR) on January 12, 2016, which included the independent auditor's report on financial statements.  The balance of the process includes the Independent Auditors’ Report, Independent Accountant’s Report, Required Communications to those charged with governance, Schedule of Expenditures of Federal Awards and Reports as Required by OMB Circular A-133, and the Management Letter. There were no significant deficiencies or material weaknesses to be reported on the district’s financial reporting.

Todd Webster from KPMG will be available at this meeting to give an overview and highlight of our audit.

STRATEGIC OBJECTIVES
• Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  Yes)
The cost of the audit was $289,000.
EVALUATION
SUBMITTED BY: 
Stephanie Heaton   Gretchen Saunders
Manager of District Accounting
(813) 272-4292
  Chief Business Officer
(813) 272-4270
    C 6.04
Hillsborough County Public Schools (Florida) * Mtg.#20160329_757 (Board Meeting) * Section C Item# 6.04