Business Services Action Item

DATE:	Tuesday, February 5, 2019
TO:	School Board Members
FROM:	Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Accept the Federal Single Audit for the Fiscal Year ended June 30, 2018 (Business Services Division)
EXECUTIVE SUMMARY
Under the Federal Single Audit Act, district school boards are required to have an annual audit of federal awards.    The Single Audit is a financial statement and federal awards’ audit of entities that spend $750,000 or more in federal funds per year.  The intent of the audit is to provide assurance to the Federal Government that adequate internal controls are in place, and the district is in compliance with program requirements. For the Fiscal Year 2017/2018, the district was audited by the firm of KPMG. There were no significant deficiencies or material weaknesses to be reported.
STRATEGIC OBJECTIVES
• Establish a strong foundation of financial stewardship
FINANCIAL IMPACT (Budgeted:  Yes)
The cost of the audit was $60,000.
EVALUATION
SUBMITTED BY:  Stephanie Heaton, Manager, District Accounting

Stephanie Heaton		Gretchen Saunders
Manager, District Accounting (813) 272-4292		Chief Business Officer (813) 272-4270
		C 6.14
Hillsborough County Public Schools (Florida) * Mtg.#20190205_917 (Board Meeting) * Section C Item# 6.14