Annual Independent Audit
At the organizational meeting of each year, the Board of Education will appoint an independent firm of certified public accountants to perform an audit, for that fiscal year, of all receipts, expenditures, obligations and financial records of the North Colonie Central Schools.
In contracting for this audit, the Board will indicate any special information it wishes included in the auditor’s report and require a representative of the accounting firm to discuss the audit directly with the Board. The auditor’s report shall be adopted by resolution and a copy shall be filed with the Commissioner of Education.
To maintain continuity in the independent audit and management reports, the Board will engage the same auditors for a period of five (5) years, provided each year’s performance is deemed satisfactory. At the end of that period of time, or at the discretion of the Board, a Request for Proposal (RFP) will be conducted to insure a competitive fee structure. Nothing would preclude the auditor under contract from submitting a proposal or being awarded a contract or agreement for subsequent period or periods.
Cross-ref:
1120, School District Records
6660, Independent Auditor
Ref: Education Law §§2116-a
General Municipal Law §§33; 34
8 NYCRR §§170.2; 170.3, 170.12
Policy Adopted: November 12, 1973
Amended: February 28, 1977
Amended: May 18, 1998
Amended: December 21, 2015