Section 14.14.050. Annual audit.

   (a) The school board in each school district shall, before October 1 of each year, provide for an audit of all school accounts for the school year ending the preceding June 30.  To make the audit the school board shall contract with a public accountant who has no personal interest, direct or indirect, in the fiscal affairs of the district. One certified copy of the audit shall be filed with the commissioner and one certified copy shall be posted in a public place at the principal administrative office of the district.
   (b) The audit shall conform in form to requirements established by the commissioner.  The commissioner shall withhold all payments of state funds after November 15 to a school district that fails to file a certified copy of the audit with the department.
   (c) The commissioner may provide for a reaudit or an audit check in a school district if in the commissioner's judgment it is necessary to substantiate the reported expenditures.
   (d) The school board shall not make the audit if an audit that satisfies the requirements of this section and that is filed and posted as required by this section is made according to AS 29.35.120.

Authorities

14.08.111;14.16.050;14.17.505

Notes

Implemented As

4 AAC 06.120
4 AAC 06.121
4 AAC 09.130

References

4 AAC 06.121
AS 14.08.111 Duties.
AS 14.16.050 Applicability of education laws.
AS 14.17.505 Fund balance in school operating fund.

History

(Sec. 1 ch 98 SLA 1966; am Sec. 22 ch 53 SLA 1973; am Sec. 30 ch 74 SLA 1985)