Section 4.06.121. Annual financial reporting requirements.

Effective August 5, 1990, a school district's annual audit report under AS 14.14.050 must meet the following requirements:  
		(1) the financial reports must be in conformity with generally accepted accounting principles defined in the Codification of Governmental Accounting and Financial Reporting Standards adopted in 4 AAC 06.120(a)(1);  
		(2) all governmental money shall be reported on the modified accrual basis of accounting;  
		(3) the effective dates of state and federal laws stipulating financial reporting requirements for school districts govern the content of an audit acceptable under AS 14.14.050;  
		(4) financial audits shall report data for all required codes contained in the Uniform Chart of Accounts for Public School Districts, adopted by reference in 4 AAC 06.120(a)(2); revenue and expenditure codes for which there were no transactions during the audit period need not be reported;  
		(5) the following additional special reports must be submitted, on a form prescribed by the department, with the annual audit report:  
			(A) Auditor's Report on Fund Balance Compliance based upon the requirements of AS 14.17.505;  
			(B) Auditor's Report on Compliance based upon the employee bonding requirement of AS 14.14.020;  
			(C) repealed 12/30/98;  
			(D) Certified Auditor's Report of Reimbursable Expenditures for School Construction based upon the requirements of AS 14.11.100 and 4 AAC 31.060;  
			(E) Certified Tuition Rate Report based upon the requirements of 4 AAC 09.030.  

Authorities

14.07.020;14.07.060;14.14.050

Notes

Reference

4 AAC 09.160
4 AAC 27.006

Authority

AS 14.07.020 AS 14.07.060 AS 14.14.050

History

Eff. 8/5/90, Register 115; am 12/30/98, Register 148; am 5/4/2000, Register 154