2018 District Audit Reports
The audit function may be one of the most crucial aspects of monitoring a school district’s financial condition. It is the board of education’s responsibility to maintain the fiscal health of the district and to ensure that all legal mandates relating to the financial transactions of the district are adhered to. There are three types of auditing services that board of education members encounter in a school district setting: claims auditor, internal auditor, and external auditors.
The claims auditor reviews all requests for payment of necessary expenses of operation of the school district. The Claims Auditor assumes the powers and duties of the board of education in regard to approving all claims against the district. The claims auditor, an outside consultant, reviews weekly all invoices processed for payment by the district business office staff. He reports directly to the board of education. At the organization meeting the board of education appointed EmKay Consulting as the claims auditor for the fiscal year.
The internal auditor focuses on an evaluation of the internal controls within the business function of the school district. In July the Jericho Board of Education appointed Smith, LLP to be the internal auditors of the Jericho Union Free School District. The internal auditors review and evaluate many aspects of the district’s finances including payroll, benefits, cash receipts, and cash disbursements throughout the year. The internal auditor also reports directly to the board of education and is independent of the business office function and the external audit function.
External auditors are certified or licensed individuals from independent firms that contract with a school district to perform the annual financial statement audit. The work performed by the external auditor is guided by established professional standards and legal mandates. The external auditors audit the year-end financial statements. The external auditors may also be consulted to discuss issues such as alternative accounting treatments of specific accounting transactions and new legislative mandates. The board of education appointed Cullen & Danowski, LLP as the independent auditors of the Jericho Union Free School District. At the October board of education meeting the external auditors presented a report to the board of education and to the general public. The district received the highest level of approval on its audit for 2018, and the auditors provided an "unmodified opinion."
1. Jericho UFSD Financial Statement
2. Management Letter and Corrective Action Plan
3. Extraclassroom Activities Fund
4. Federal Single Audit
5. Risk Assessment Update
6. Facilities/Capital Projects Report