Audit Committee Meeting   6/4/2021

We'll be here.

Oh, you're muted now.

I think she's talking.

Liz, you're still muted.

Yeah, I'm things.

Is it?

I'm the school finance officer.

All in favor say aye.

Aye.

So with that, David, I'll turn it over to you.

And then doing the field work in October with the goal of having everything wrapped up in November.

Okay, seeing none, David, you wanna move to the next piece of this?

We have discussed these two statements over the previous few audit committee meetings, but now they're really getting upon us, so we wanna focus our attention on these two.

Then it will, kind of the big thing is, it will be a special revenue fund, full accrual basis within the county audit report.

So basically once we get the activity funds done we can basically take that report and then take that report as a starting point and then just have to make any cash to accrual adjustments to get those activity funds from the cash basis to the accrual basis.

I just want to make sure that

Changes reporting some, but not significant legwork on your end.

There's not much in the way of accruals that really apply to activity funds, so the accrual basis and the cash basis really are going to be, there's almost, there's no difference really.

these are the things I normally pay in July and August that you know or for you know previous year and same thing if we're paying anything in June that is for July and August those things we just you know I again I agree with you Jackson I don't think it's gonna the numbers are going to be significant for the accruals but we just you know we have to analyze it to make sure that that's the case.

So I would open if Cecilia or Jackson or Rosalyn have anything you wanted to add here, I would welcome it for the committee.

And that applied on the school site as well.

We should be ahead of the ball on this, I think.

Great.

That's good.

What we're doing on our end to help the county implement this is we're working on templates, designing a spreadsheet that will kind of, once you guys gather all that information, we'll be able to dump it into a spreadsheet that will then allow us to get the information and help the county get the information recorded in the financial statements, as well as having all that information available that has to be disclosed in the report.

And so we will probably work very closely with Andy's team to make sure that we are identifying all of those as well.

I just feel like they're always on the board's agenda when we have one.

Anybody know that, Andy?

I don't know that, but it does seem that way because usually when there's ever changes, I feel like I'm notified by our county attorney's office after they've worked through that process.

Yeah.

OK, awesome.

You are, there we go.

So could you explain a little bit about what the lift is?

But Cecilia, I know you have dug into this so much more than I have, if you wanna share anything else.

The initial lift is gonna be the data gathering.

We'll be seeing you a lot over the next few weeks and actually the next few months.

So thank you for that.

You are muted.

We could push that up earlier if that doesn't work for folks, or we could push it out to the following week, 29, 30, which is a Monday and Tuesday.

what Liz is saying now, Rosalyn, Jeff, Friday's good typically.

I'm gonna get really close because clearly there's a volume issue here.

My one concern is getting some information prior.

I need a little time to.

They are not easy documents to go through.

They get thicker by the year.

So that just board members that Yeah, that's helpful.

Have a wonderful weekend.

Bye.

Meeting is adjourned.

Kelsey, can you stick with me for just a minute because I have a question for you.