Audit and Annual Report

Purpose

This policy outlines steps taken to create the annual report and oversee the external audit process.

This policy is permanent.

Annually, the Governing Board shall ensure the engagement of a Certified Public Accountant (CPA) to audit the financial and programmatic operations of ANCS. The Governing Board shall select and contract with only Georgia-licensed CPAs. The Governing Board shall ensure that the school provides timely assistance to the auditors in order to provide them with the necessary information for the audit.
Once the Governing Board receives the final report, it must vote to approve the contents of the audit at either its next regularly called meeting or at a special meeting called in accordance with the Governing Board's bylaws.
The Director of Finance and Operations shall ensure that a copy of the annual audit report including all information required by O.C.G.A. § 20-2-2067.1 is filed with Atlanta Public Schools and the Georgia Department of Education no later than November 1 of each year. The audit report should include a certificate signed by the Chair of the Governing Board indicating that the Governing Board voted to accept the contents of the audit. If the Governing Board did not accept the contents of the audit report, that should be noted with the submission.

The Director of Finance and Operations shall ensure that the annual financial statement is submitted to all authorizers concurrent with the submission of the annual audit.
1. The total receipts of all funds, itemized by source of revenue, including taxes, assessments, service charges, grants of state money, gifts, or other general sources from which funds are derived.
2. The total disbursements of funds, itemized by the nature of the expenditure.
3. The balance at the close of the fiscal year.

Approved	Effective	Last Review	Next Review
06/16/2015	07/02/2015	09/2024	09/2026