• Conduct an independent audit of all District funds and accounts for the fiscal year ending June 30. • Prepare and provide the District with the Annual Comprehensive Financial Report (ACFR). • Prepare and file the Annual Financial Report (AFR) to ISBE within required timelines. • Prepare and submit all required federal and state filings, including those associated with grants, as required by applicable laws and regulations. • Prepare the Administrative Cost Worksheet and related supporting documentation as required by ISBE. • Meet with the Superintendent and Chief Financial Officer to review the audit plan, draft findings, and final audit results. • Provide guidance to staff throughout the year as accounting, financial reporting, and compliance questions arise. • Present the final audit report to the Board of Education at a public meeting. • Provide the District with a minimum of 10 bound copies and one electronic PDF copy of the final audit report and all filings. • The control deficiency letter shall be required and should include a statement of audit findings and recommendations to be sent on a draft basis to the Chief Financial Officer to be reviewed prior to the final draft. • The draft of the audit deliverables and management letter must be received by the third Tuesday of October to allow for sufficient time for review • Final draft of audit deliverables must be received by the last Thursday in October and presented by the audit firm at the first meeting in November. • Corrections of all final reports filed with the State of Illinois or final Federal Compliance Reports shall be made at no additional fees unless otherwise stated in the audit proposal. • Any additional work beyond this scope must have the fee structure clearly stated in the proposal. • The District intends to apply for and obtain the Certificate of Excellence from ASBO and GFOA. The format of the reports must comply with the standards required to qualify for these awards. • The District, as part of the audit process, shall require technical assistance in implementing new standards.
