Home State and Local Local Government Local Educational Agencies K-12 Local Education Agencies, Charter Schools, and Joint Powers Entities (LEAs) Summary of Required Audit Report Components

Summary of Required Audit Report Components

(a) Introductory Section.

(1) Table of Contents for the audit report.

(2) Other information as deemed appropriate by the auditee.

(b) Financial Section.

(1) Independent Auditor’s Report.

(2) Management’s Discussion and Analysis.

(3) Basic Financial Statements.

(4) Notes to the Basic Financial Statements.

(c) Required Supplementary Information.

Schedule of budgetary comparison data, by object for the General Fund and any major special revenue funds that have legally adopted annual budgets, disclosing excesses of expenditures over appropriations, if any, in individual funds presented in the budgetary comparison.

(d) Supplementary Information.

(1) Local Education Agency Organization Structure.

(2) Schedule of Average Daily Attendance.

(3) Schedule of Instructional Time.

(4) Schedule of Financial Trends and Analysis.

(5) Reconciliation of Annual Financial and Budget Report With Audited Financial Statements.

(6) Optionally, Combining Statements and Individual Fund Statements and Schedules.

(7) Schedule of Charter Schools.

(8) If required as set forth in the edition of OMB Circular A-133 applicable to the year being audited, Schedule of Expenditures of Federal Awards.

(9) Notes to Supplementary Information, if required.

(e) Other Independent Auditor’s Reports.

(1) Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards.

• Management Letter, if issued (CCR , Title 5, Section 19816 (d))

(2) Report on State Compliance.

(3) If required as set forth in the edition of OMB Circular A-133 applicable to the year being audited, Report on Compliance With Requirements Applicable to Each Major Program and Internal Control Over Compliance in Accordance With OMB Circular A- 133.

(f) Findings and Recommendations.

(1) Schedule of Findings and Questioned Costs.

(2) Schedule of Prior Audit Findings.

 

NOTE: Authority cited: Section 14502.1, Education Code. Reference: Sections 14502.1, 14503 and 41020, Education Code.