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Escondido Union HSD  |  BP  3460  Business and Noninstructional Operations

Financial Reports And Accountability   

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The Governing Board is committed to ensuring the fiscal health of the district and providing public accountability. The Board shall adopt sound fiscal policies and oversee the district's financial condition.

(cf. 9000 - Role of the Board)

The Superintendent or designee shall regularly keep the Board informed about the district's finances and shall submit timely reports so that the Board can take appropriate action to ensure the district's financial stability.

The Board recognizes the need to implement the required accounting and financial reporting standards stipulated by the Governmental Accounting Standards Board and the California Department of Education. The district's goal is to properly account for the financial and economic resources of the district and to enhance the understandability and usefulness of external financial reports for the community.

(cf. 3400 - Management of District Assets/Accounts)

(cf. 3440 - Inventories)

The Superintendent or designee shall ensure that all financial reports, including a Management Discussion and Analysis, are prepared in accordance with law and in conformity with generally accepted accounting principles.

(cf. 3020 - Fiscal Policy Team)

(cf. 3100 - Budget)

(cf. 3110 - Transfer of Funds)

(cf. 3300 - Expenditures/Expending Authority)

(cf. 3430 - Investing)

Legal Reference:

EDUCATION CODE

1240 Duties of County superintendent of schools

14500-14508 Financial and compliance audits

17150-17150.1 Public disclosure of non-voter-approved debt

17170-17199.5 California School Finance Authority

33127 Standards and criteria for local budgets and expenditures

33128 Standards and criteria; inclusions

33129 Standards and criteria; use by local agencies

35035 Powers and duties of superintendent

41010-41023 Accounting system

41326 Emergency apportionment

41344 Repayment of apportionment significant audit exceptions

41344.1 Appeals of audit findings

41455 Examination of financial problems of local districts

42100-42105 Requirement to prepare and file annual statement

42120-42129 Budget requirements

42130-42134 Financial reports and certifications

42140-42142 Public disclosure of fiscal obligations

42637 County Superintendent review of district's financial and budgetary conditions

42652 Revocation or suspension of warrant authority

48300-48316 Student attendance alternatives

GOVERNMENT CODE

3540.2 School district; qualified or negative certification; proposed agreement review and comment

7900-7914 Appropriations limit

16429.1 Local agency investment fund

53646 Reports of investment policy and compliance

CODE OF REGULATIONS, TITLE 5

15060 Standardized account code structure

15070 Submission of reports using standardized account code structure

15440-15451 Criteria and standards for school district budgets

15453-15464 Criteria and standards for school district interim reports

19810-19816.1 Audits

Management Resources:

CSBA PUBLICATIONS

Maximizing School Board Governance: Fiscal Accountability, 2006

CALIFORNIA DEPARTMENT OF EDUCATION COMMUNICATIONS

New Financial Reporting Requirements for Postemployment Benefits Other than Pensions, February 26, 2007

1208.00 Audit Resolution Process: Repayment Plans

FISCAL CRISIS AND MANAGEMENT ASSISTANCE TEAM PUBLICATIONS

Fiscal Oversight Guide for AB 1200, AB 2756 and Subsequent Related Legislation, September 2006

GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENTS

Statement 54, Fund Balance Reporting and Governmental Fund Type Definitions, March 2009

Statement 45, Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions, June 2004

Statement 34, Basic Financial Statements and Management's Discussion and Analysis - For State and Local Governments, June 1999

U.S. GENERAL ACCOUNTING OFFICE AND PRESIDENT'S COUNCIL ON INTEGRITY AND EFFICIENCY (PCIE) PUBLICATIONS

Financial Audit Manual, revised 2003

U.S. OFFICE OF MANAGEMENT AND BUDGET CIRCULARS

A-133 Audits of States, Local Governments, and Non-Profit Organizations

STATE CONTROLLER PUBLICATIONS

Standards and Procedures for Audits of California K-12 Local Educational Agencies (annual publication)

WEB SITES

CSBA: http://www.csba.org

California Association of School Business Officials: http://www.casbo.org

California County Superintendents Educational Services Association: http://www.ccsesa.org

California Department of Education, Finance and Grants: http://www.cde.ca.gov/fg

Education Audit Appeals Panel: http://www.eaap.ca.gov

Fiscal Crisis and Management Assistance Team: http://www.fcmat.org

Governmental Accounting Standards Board: http://www.gasb.org

School Services of California: http://www.sscal.com

State Controller's Office: http://www.sco.ca.gov

U.S. Government Accounting Office: http://www.gao.gov

U.S. Office of Management and Budget: http://www.whitehouse.gov/omb

Policy ESCONDIDO UNION HIGH SCHOOL DISTRICT

adopted: November 13, 2001 Escondido, California