6660 Independent/External Audits

As required by law, the school district shall obtain an annual audit of its records by an independent certified public accountant or an independent public accountant. The report of such annual audit shall be presented to the Board of Education by such accountant. The auditor’s report shall be adopted by resolution and a copy filed with the Commissioner of Education.

The district shall, within 90 days of the receipt of such report or letter, prepare a corrective action plan in response to any findings contained in the annual external audit report or management letter, or any final audit report issued by the state comptroller. This corrective action plan shall be presented to the Board for review. To the extent practicable, implementation of such corrective action plan shall begin no later than the end of the next fiscal year.

The district shall use a competitive request for proposals (RFP) process when contracting for such annual audit. In addition, pursuant to law, no audit engagement shall be for a term longer than five consecutive years; provided, however, that the district, in its discretion, may permit an independent certified public accountant or an independent public accountant engaged under an existing contract for such services to submit a proposal in response to an RFP or to be awarded a contract to provide such services under a RFP process. While no single contract for external auditing services may be for a period longer than five years, the law permits a District, in it discretion, to allow the auditor currently engaged to compete and be awarded a new contract for such services.

Cross-ref: 6600, Fiscal Accounting and Reporting

Ref: Education Law §2116-a(3) and (b)

[Note: Approved by the Guilderland C.S.D. Audit Committee December 2011.]

Adopted March 5, 2013

Reviewed and Adopted December 10, 2019

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