Specifications include, but are not limited to: 2.1 Prepare reports addressed to Greenwood School District 50 Board of Trustees. 2.2 Prepare all required and supplemental schedules and statements to include all detail/combining schedules as prescribed by the SC Department of Education, footnotes, statistical section, and to advise, as necessary, on related accounting and reporting concerns. 2.3 Assist the District in preparing the Management's Discussion and Analysis (MD&A). 2.4 Prepare and provide an electronic copy (PDF) of the final ACFR to the Director of Finance in order to give public access to the ACFR from the District’s website. 2.5 Begin preliminary audit work during the final quarter of the fiscal year (April-June). 2.6 Be provided a final trial balance by the District in excel format before field work begins. Field work usually begins the second or third week of September. 2.7 Prepare all necessary statements and schedules in accordance with GASB 34. 2.8 Perform audits of a selected sample of the Pupil Activity Funds. All schools, including high schools, middle schools, elementary schools, Russell Technology Center, Genesis Education Center and the Early Childhood and Montessori School have Pupil Activity Funds. 2.9 Include audit procedures in the audit plan for the SFI Debt Service fund. Greenwood Fifty School Facilities, Inc. (“SFI), a not-for-profit 501(c) (3) corporation, is a component unit of the District but is treated as “blended” for financial statement purposes. 2.11 Provide an official opinion on compliance with applicable regulations. (This is specifically discussed in the State Audit Guide.) The report of the examination of the general purpose financial statements must state the scope of the examination and that the financial audit was performed in accordance with generally accepted auditing standards.
