These files may take longer to load due to file size.
Nebraska School Districts must follow Rule 1 and Rule 2 on Auditing. A portion of this is stated as follows.
A School District's Fiscal Year shall mean the annual period which commences on September 1, in one calendar year, and ends on August 31, in the following calendar year.
The audit must be conducted in accordance with Auditing Standards Generally Accepted in the United States of America and the standards for financial and compliance audits contained in Government Auditing Standards issued by the Comptroller General of the United States. If a separate management letter is referenced as a part of the Report on the Internal Control and/or the Report on Compliance with laws and regulations it shall be filed as part of the financial (audit) report.
A report cover, index or table of contents, independent auditors' reports (financial, compliance and internal control), Managementâs Discussion and Analysis (MD&A), government-wide and fund financial statements (including notes thereto), other required supplementary information (RSI), other supplemental schedules and any additional information as may be required by the Nebraska Revised Statutes and cash basis reporting standards as may be appropriate to the system of accounting.
All school districts that expend $500,000 or more in a fiscal year in federal awards (including the value of commodities provided by the U.S. Department of Agriculture) are also required to have an audit conducted and reported in accordance with the "Single Audit Act," Office of Management and Budget Circular A-133 and A-87 (Appendices A and B, copies of which are on file at the Nebraska Department of Education's central office in Lincoln), and the American Institute of Certified Public Accountants Audit and Accounting Guide entitled Audits of State and Local Governmental Units.
All school districts shall file with the Commissioner of Education on or before November 5 a copy of the financial (audit) report. All school districts shall file with the Commissioner of Education on or before January 31, a copy of the auditor's letter to management, together with the district's responses, and any responses to compliance issues resulting from the audit. The financial (audit) report for all Class II, III, IV, V, and VI school districts must also be filed with the Auditor of Public Accounts on or before November 5.