|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)|
|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:
|• 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.|
|SUBMITTED BY: Stephanie Heaton, Manager, District Accounting|
|Stephanie Heaton||Gretchen Saunders|
|Manager, District Accounting
|Chief Business Officer
|Hillsborough County Public Schools (Florida) * Mtg.#20180501_871 (Board Meeting followed by Public Hearing) * Section C Item# 6.05|