Specifications include, but are not limited to: annual audit beginning with the fiscal year ending June 30, 2022. The annual financial audit will encompass the financial statements as required by GASB Statement No. 34 and the Texas Education Agency Financial Accountability System Resource Guide for the District for the fiscal year ending June 30, 2022. The audit is to be performed in accordance with generally accepted auditing standards; generally accepted governmental auditing standards; provisions of Title 2 U.S. Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance); and the standards contained in the Texas Education Agency Financial Accountability System Resource Guide. The financial statement audit is to determine whether (1) the financial statements present fairly the financial position, results of operations, and cash flows or changes in financial positions in accordance with generally accepted accounting principles, and (2) whether the District has complied with laws and regulations for those transactions and events that may have a material effect on the financial statements. The financial related audit will also include determining whether (1) financial reports and related items are fairly presented, (2) financial information is presented in accordance with established or stated criteria, and (3) the District has adhered to specific financial compliance requirements.
