CASH SD Workshop October 5, 2017 Eric Hall CASH Past Chair, Eric - - PDF document
CASH SD Workshop October 5, 2017 Eric Hall CASH Past Chair, Eric Hall & Associates CASH Workshop Making the School Facility Program Work for You Thursday, October 26 th Hilton Garden Inn Redding Thursday, November 2 nd Sonoma
CASH Past Chair, Eric Hall & Associates CASH Workshop Making the School Facility Program Work for You
Education
Showcase your K-12 Design project at the CASH Annual Conference! ♦♦♦ Entry Entry Fee Fee due: due: Friday, Friday, Septe September 29 29th
th
Octob October 6 6th
th (tomorr
(tomorrow!) w!) Pr Proje
due: due: Friday Friday, Octob October 27 27th
th Current Entries
Williams + Paddon Architects + Planners Quattrocchi Kwok Architects Gelfand Partners Architects WLC Architects, Inc. JK Architecture Engineering BCA Architects BakerNowicki Design Studio
Directory of Acronyms can be found in the back of the room.
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Sara Slater, Assistant Fiscal Services Director of Facilities Planning and Development for the Long Beach USD
– Conforming School Facility Program (SFP)
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› Approved unfunded list (Lack of AB 55 loans) › SAB allocates fund – Notification of funding › Sign 50/05 and grant agreement – 90 days to submit – Redundant requirement › 1st annual report from date of fund release 50/06 – Date from fund release letter – Yearly audit review › Report annually until project completion – Audit requirements – Eligible vs. Ineligible
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› Eligible is finite › Ineligible is ambiguous › Ineligible supplies as described in the California School Accounting Manual (CSAM), Procedure 770. › Items not considered Furniture and Equipment because they are considered operational or supplies in nature including: › Computers, printers, computer carts, golf carts, bunsen burners, test tubes, chemicals, mechanic wrenches › Operational expenses
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› Leroy F. Greene School Facilities Act of 1998 › Labor and public contract laws › Maintain a general ledger at a Project-specific level as described in the California School Accounting Manual (CSAM), Procedure 301 and 345 › Subject to an audit pursuant to section 41024 of the Education Code from LEA external audit firms – Office of Public School Construction (OPSC) will not review expenditures to determine eligibility, this will be done by the local auditor
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Sara Slater, Long Beach USD Lettie Boggs, Colbi Technologies, Inc. Tom Duffy, CASH Legislative Advocate, Murdoch, Walrath & Holmes
Tom Duffy, CASH Legislative Advocate, Murdoch, Walrath & Holmes
statutes require local independent audits annually
are required to audit all district funds
must be reviewed and accepted by governing board at a public meeting
Must be Filed with Several State Agencies
are required to comply with state imposed audit guidelines
guidelines are subject to change annually
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bond financial and performance audits have become commonplace since passage
proposition 39 in 2000
39 bonds require a passage rate
at least 55 percent compared to Proposition 46 bonds that require a passage rate
at least 66.67 percent
districts place Proposition 39 bond measure
the ballot
39 bond measures require school boards to appoint a Bond Oversight Committee (BOC)
Role
the BOC is to assure the community that Proposition 39 bond funds comply with the bond measure resolution and as promised the community
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39 independent financial and performance audit are presented to and reviewed by the BOC
39 audits are presented to the Governing Board by the BOC
Proposition 39 audit is a major tool used by the BOC in tracking projects and expenses
completed annually, Proposition 39 audits are “Stand Alone” audits and separate and NOT part
the annual audit
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51 bond audits adhere to GAAP Principles and standards
local financial & performance audit procedures currently in place for the local audit
Proposition 39 (55 Percent Vote) bonds
51 audits should be a “Stand Alone” audit and NOT part
the annual audit report
Grant Agreement should be the compliance document used in completing the Proposition 51 audit
that facility projects extend
multiple years
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Martin Martin
Atkin Atkinson son, Andel Andelson
Loya, Loya, Ruud Ruud & Romo Romo Tom Duffy Duffy CASH CASH Legisla Legislativ ive Advoca Advocate, te, Mur Murdoch
Walr Walrath & & Holmes Holmes
Tom Duffy, CASH Legislative Advocate, Murdoch, Walrath & Holmes
the Governing board and Cabinet for the new audit requirements
to them the rationale for the new rules
the narrative positive:
for public money is a fundamental responsibility
public agencies
action for public
should be a daily
rules for spending state funds is to be valued by local agencies
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expertise in the requirements
the Grant Agreement and the new audit requirements
four lists identifying categories
expenditures based upon fund sources:
bond expenditures (must conform to the Grant Agreement adopted by the State Allocation Board)
bond expenditures as “match” to state bond expenditures (must conform to the Grant Agreement adopted by the State Allocation Board)
bond expenditures not required as match
expenditures: 100% State funds
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for the state bond audit by creating a list
documents to be gathered by the district for each state funded project
and prepare for the circumstance
multiple state funding sources being used in the construction
project (modernization, facility hardship and career tech) and the complications involved in the audits
those multiple funds
with the independent auditor from the commencement
each project to plan a successful audit
and secure all documents through project completion and close-out … and beyond
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