|DATE:||Tuesday, January 17, 2017|
|TO:||School Board Members|
|FROM:||Jeff Eakins, Superintendent|
|SUBJECT / RECOMMENDATIONS|
|Approve the Comprehensive Annual Financial Report (CAFR) for the Fiscal Year ended June 30, 2016 (Business Services Division) Revised Attachment Page v|
|On September 6, 2016, 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. 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 15th 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. In addition, the financial section must be added to and configured differently. The CAFR must contain audited statements of component units.
The final bound version, including Board approval and the opinion letter from the auditor, will be sent to GFOA for review before the end of month deadline.
|• Establish a strong foundation of financial stewardship|
|FINANCIAL IMPACT (Budgeted: Yes)|
|The district’s Central Printing shop will provide the cover, paper, printing, and binding of this report at a cost of $520. The cost to submit the CAFR to GFOA is $1,095. The funds for these costs are available in the Accounting Department’s budget.|
|SUBMITTED BY: Stephanie Heaton, Manager, Accounting Services|
|Gretchen Saunders||Dr. Alberto Vázquez|
|Chief Business Officer
|Chief of Staff
|Hillsborough County Public Schools (Florida) * Mtg.#20170117_805 (Board Meeting) * Section C Item# 6.06R|