Audit Services

The vendor is required to providing single audit services for the 2024 - 2025 fiscal year and additional years as indicated.
- Description of district and records to be audited
• The district operates on a July 1st to June 30th fiscal year.
• The district is a special-purpose government that is governed by a separately elected governing body
• It is legally separate from and fiscally independent of other state and local governments
• The district’s financial statements present only the activities of those organizational entities for which its elected governing board is financially accountable.
- Basis of accounting
• The government-wide, proprietary, and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting
• Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
• Property taxes are recognized as revenue in the year for which they are levied.
• Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. under this method, revenues are recognized when measurable and available.
• The district considers all revenues reported in the governmental funds to be available if the revenues are collected within 60 days after year-end.
• Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they are due and payable.
• Proceeds of general long-term debt and acquisitions under capital leases are reported as other financing sources
• All internal service funds of the district follow board statements and interpretations issued on or before November 30, 1989; accounting principles board opinions; and accounting research bulletins, unless those pronouncements conflict with board pronouncements.
- Uniform system of financial records (USFR)
• Statutes requires the auditor general in conjunction with the department to prescribe a uniform system of financial records for use by school districts
• This system has been established in the uniform system of financial records accounting manual.
• The uniform systems of financial records (USFR) include a chart of accounts that provides for the establishment of a complete accounting system
• The chart complies with country generally accepted accounting principles, and meets the requirements
• The department of account classifications and statutes the account codes and titles listed in the chart must be used by the district.
• The USFR also provides comprehensive accounting procedures for accounting records, cash, supplies inventory, property control, revenues, expenditures, payroll, travel, and state and federal financial assistance.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: April 08, 2025