The Superintendent shall provide ongoing internal accounting controls and a means for the accounting of income and expenditures as outlined in the adopted budget.
(cf. 3440 – Inventories)
Outstanding Encumbrances
Encumbrances outstanding at the end of any fiscal year shall be designated as non-lapsing appropriations to be carried forward to the subsequent year’s budget.
Fund Balance
Designations of fund balance shall be approved by the Board.
Audits
The Board shall provide for an annual audit of District accounts by a certified public accountant who has no personal interest in District fiscal affairs. The audit shall be conducted in accordance with the requirements of state and federal regulations.
Legal Reference:
ALASKA STATUTES
14. 08.111 Duties (Regional school boards)
14.14.050 Annual Audit
14.14.060 Relationship between borough school district and borough
14.14.065 Relationship between city school district and city
14.17.505 Fund balance in school operating fund
ALASKA ADMINISTRATIVE CODE
4 AAC 06.120 Accounting and audit manuals, charts of accounts, code descriptions
4 AAC 06.121 Annual financial reporting requirements
4 AAC 09.130 School district audit
4 AAC 09.160 Fund balance