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Solanco School District 2012-13 Audit January 6, 2014

Solanco School District 2012-13 Audit January 6, 2014. 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 7/1/12- 6/30/13

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Solanco School District 2012-13 Audit January 6, 2014

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  1. Solanco School District 2012-13 Audit January 6, 2014

  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 7/1/12- 6/30/13 • 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. Relationship: Capital Assets vs. Debt

  5. General Fund Results For Fiscal Year Ended

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

  7. General Fund Expense Comparison

  8. 2012-13 General Fund Expenses

  9. Debt Service Fund

  10. Debt Service Requirements

  11. Capital Project Fund

  12. Cafeteria Fund Analysis

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

  14. Health Benefit Expense

  15. 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 • 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

  16. Schedule of Expenditures of Federal Awards

  17. 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

  18. 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.

  19. About trout, Ebersole & Groff LLP

  20. Who We Are

  21. Our Community Leadership

  22. Our Professional Commitment

  23. Our Vision

  24. Industry Expertise

  25. What Differentiates Our Firm

  26. Your Partner • 18 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

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

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