The annual audit report will be addressed to the Board and will include the independent auditors’ report, management’s discussion and analysis, basic financial statements, required supplementary information, supplementary information, other information, and reports on legal and other regulatory requirements as required. Reports of examinations of financial statements must state the scope of the examination and that the audit was performed in accordance with generally accepted auditing standards and must include an opinion regarding whether the financial statements conform to generally accepted accounting principles. A letter to the governing body shall be provided each year. The Districts expect the audit firm to provide technical advice and assist with the drafting of the financial statements including the government-wide statements, notes to the financial statements and other schedules. The District agrees to assume all management responsibilities relating to the financial statements, schedule of expenditures of federal awards, related notes, and other non-audit services provided. The Districts will require one electronic copy of the final audit report and at least two (2) bound, printed copies. The audit firm may be requested to make a presentation to a District’s governing body in a timely fashion once the audit report is completed.
