HCPS FL Logo Business
Action Item
DATE: Tuesday, December 10, 2013
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Approve the Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ending June 30, 2013 (Business Division)
EXECUTIVE SUMMARY
On September 10, 2013, the unaudited Report of Financial Data to the Commissioner of Education (ESE348) and the Superintendent's Annual Financial Report (ESE145) for the fiscal year ending June 30, 2013, 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 statements.

Last year, the CAFR was submitted to the Governmental Financial Officers Association (GFOA) for evaluation and received the national Certificate of Achievement for Excellence in Financial Reporting (Certificate).  This was the 12th 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 ESE348 and ESE145 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.

STRATEGIC OBJECTIVES
•Â Align financial resources to support the district’s strategic goals
FINANCIAL IMPACT (Budgeted:  Yes)
The district's Central Printing shop provides the covers, paper, printing, and binding of this report at a cost of $540.  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.
EVALUATION
SUBMITTED BY: 
Ed Nicholson   Gretchen Saunders
Manager of District Accounting
(813) 272-4592
  Chief Business Officer
(813) 272-4270
    A 6.02
Hillsborough County Public Schools (Florida) * Mtg.#20131210_604 (Board Meeting) * Section A Item# 6.02