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FY 2013 Audit Contract

FY 2013 Audit Contract. June 13, 2013 8:45 am – 9:15 am. LaTonya Bell Branch Manager, Division of District Support Kentucky Department of Education l atonya.bell@education.ky.gov 502-564-3846. FY 2013 Audit Contract Highlights.

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FY 2013 Audit Contract

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  1. FY 2013 Audit Contract June 13, 2013 8:45 am – 9:15 am

  2. LaTonya Bell Branch Manager, Division of District Support Kentucky Department of Education latonya.bell@education.ky.gov 502-564-3846

  3. FY 2013 Audit Contract Highlights • Audit Contracts, Audit Acceptance Statements, latest Peer Review Reports, and if applicable, any letter of comment, letter of response and KSCPA Peer Review Committee letter - May 28, 2013 • Auditor’s Alert – High Risk Areas • Auditor’s Qualifications • SCSDA’s Approval of Audit Contracts

  4. FY 2013 Audit Contract Highlights • Record On-Behalf Payments in the unaudited and audited AFRs and report details in the Notes to the Financial Statements • General Fund covers negative balances in other funds • Unaudited AFR & Balance Sheet – July 25, 2013 • Audited AFR & Balance Sheet – Nov. 15, 2013 • Audit Extension Request Form - October 1, 2013 • Statement of Certification - November 15, 2013

  5. On-Behalf Payments • On-Behalf Payment Instructions – MUNIS Coding http://education.ky.gov/districts/FinRept/Pages/On-Behalf-Payments-Information.aspx • Health Benefits less Federal Reimbursement • Kentucky Teachers’ Retirement System (KTRS) • Technology • Debt Service • Kentucky Inter-local School Transportation Association (KISTA) energy savings capital leases • On-Behalf Payment Payroll Related Summary Report

  6. FY 2013 Audit Contract Highlights • Audit Reports - November 15, 2013 • Penalties - Withholding 10% audit fee • Change in Scope of Audit • Auditor vs. District Responsibilities • A-133 Desk Reviews

  7. KDE Contacts Jeffrey Coulter, Financial Analyst jeffrey.coulter@education.ky.gov Ken Smith, Financial Analyst ken.smith@education.ky.gov Pari Ziebart, Graduate Accountant pari.ziebart@education.ky.gov 502-564-3846

  8. QUESTIONS?

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