DIE Regional School District Audits
REGIONAL SCHOOL DISTRICT AUDITS
An independent audit of the school department's accounts shall be conducted annually. This review shall be conducted in accordance with the generally accepted accounting principles and the Government Auditing Standards issued by the U. S. Comptroller General.
Upon the completion of each audit, a report there on shall be made to the Chair of the School Committee, and a copy sent to the Chair of the Select Board and the Chair of the School Committee in the member municipalities. The Committee will consider recommendations made by the auditor for maintaining an efficient system for recording and safeguarding the school department's assets.
Additionally, the district is also subject to the following:
End of Year Financial Compliance Report: Every Massachusetts school district must submit the results of this report to the Department of Elementary and Secondary Education. This End of Year report must be submitted to the Department of Elementary and Secondary Education on or before September 30 each year.
Government Accounting Standards Board 34: The District is covered in these government financial statements of revenue and expenditures of the municipality.
Federal Grant Audits: If the District spends above the amount established in law, then the district is subject to the Single Audit Act.
Student Activity Account: As required by state law, student activity accounts are audited annually.
In addition, the Committee may request an additional audit of the school district's accounts at its discretion.