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Solanco School District 2013-14 Audit Overview

This audit report provides an overview of the Solanco School District's financial statements and audit findings. It is in accordance with US Generally Accepted Auditing Standards and Government (Yellow Book) Auditing Standards.

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Solanco School District 2013-14 Audit Overview

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  1. Solanco School District 2013-14 Audit January 5, 2015

  2. Audit Overview • Audit in Accordance with: • US Generally Accepted Auditing Standards • Government (Yellow Book) Auditing Standards • US OMB Circular A-133 (Single Audit) • Audit of period 7/1/13- 6/30/14 • Solanco Business Office drafts financial statements • Overview of Audit Process • Audit Findings: No significant deficiencies or material weaknesses are reported

  3. Governmental ActivitiesHistorical Analysis

  4. Governmental ActivitiesHistorical Net Position

  5. Relationship: Capital Assets vs. Debt

  6. General Fund Results For Fiscal Year Ended

  7. GASB No. 54 – Fund Balance Reporting and Government Type Definitions

  8. General Fund Expense Comparison

  9. 2013-14 General Fund Expenses

  10. Debt Service Fund

  11. Debt Service Requirements

  12. Long-term Obligations

  13. Other Debt Payments

  14. Capital Project Fund

  15. Cafeteria Fund Analysis

  16. Internal Service Funds Changes in Net Position Composition of Net Position

  17. Funding Sources for Health Insurance

  18. Other CAFR Components • Management’s Discussion and Analysis • Notes to Financial Statements • Note 1- Summary of Significant Accounting Policies • Note 11- Long-term Liabilities • Note 15- Operating Lease • Note 17- Fund Balances • Note 20 – Contingencies and Commitments • Supplemental Schedules for additional analysis • Single Audit (compliance audit of the School District’s federal grants) and related reports • Introductory Section and Statistical Section are Unaudited

  19. Schedule of Expenditures of Federal Awards

  20. Schedule of Expenditures of Federal Awards Report on Internal Control over Financial Reporting • No Material Weaknesses or Significant Deficiencies Identified Report on Compliance with Requirements • No Compliance Findings

  21. This presentation is intended solely for the information and use of the management of Solanco School District and the School Board and is not intended to be and should not be used by anyone other than these specified parties.

  22. About trout, Ebersole & Groff LLP

  23. Our Community Leadership

  24. Our Professional Commitment

  25. Industry Expertise

  26. What Differentiates Our Firm

  27. Your Partner • 19 years of experience • Expert in Audits of: • Employee Benefits • Governmental Agencies • Tax-Exempt Organizations • Member of: • American Institute of Certified Public Accountants • Pennsylvania Institute of Certified Public Accountants • Government Finance Officers’ Association • Pennsylvania Association of School Business Officials • Named one of Central PA’s • Forty Under 40 in 2009 Jill E. Gilbert, CPA, CGMA

  28. Contact Information:Jill Gilbert, CPA/PartnerDirect line: 717-358-9152Email: jgilbert@troutcpa.com 1705 Oregon Pike, Lancaster, PA 17601 5000 Ritter Road, Suite 104, Mechanicsburg, PA 17055 Phone 717-569-2900 | Toll Free 800-448-1384 | Fax 717-569-0141 www.troutcpa.com

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