Presentation to: Prince William County Public Schools February 19, - - PowerPoint PPT Presentation

Presentation to: Prince William County Public Schools

February 19, 2020

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Engagement Services

Financial Statement Audits:

• Prince William County

Public Schools, including:

• Student Activity Funds

(Agency Fund)*

• Prince William County

Public Schools Foundation (Discretely Presented Component Unit)*

Compliance:

• Governmental Auditing

Standards

• Auditor of Public Accounts

(APA) Specifications for Audits

• f Cities, Counties and Towns

(Specifications)

• County and School’s Major

Federal Programs required by Title 2 U.S. Code of Federal Regulations Part 200 (Uniformed Grant Guidance)

Examinations:

• Virginia Retirement System

census data testing (Performed under separate engagement letter)

Agreed‐Upon Procedures:

• MOU on PWCS disbursement

process

* We do not audit the Student Activity Funds, a School Agency Fund, nor the Prince William County Public Schools Foundation, a discretely presented component unit of the Schools.

Service Deliverables

Financial Statement Opinions:

Audit Opinion

• Basic Financial

Statements

• Notes to the

Basic Financial Statements In Relation to Opinion

• Supplementary

Information Unaudited

• Introductory

Section

• Required

Supplementary Information

• Statistical

Section Other Auditors

• Prince William

County Public School Activity Funds

• The Education

Foundation for Prince William County Public Schools Examination

• Exam School’s

assertion that census data reported to the VRS were complete and accurate Agreed‐Upon Procedures

• Perform

procedure agreed‐upon between the County and Schools over the MOU on PWCS disbursement process

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Other Services:

Unmodified

• pinion,

August 27, 2019 In process Our opinion on the 2019 financial statements is unmodified, or a “clean” opinion, dated December 19, 2019

Service Deliverables (cont.)

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Government Auditing Standards

• Consider internal

control over financial reporting

• Perform test of

compliance with certain provisions of laws, regulations, contracts and grants APA Specifications

• Perform test of

compliance with certain provisions of laws, regulations, contracts and grants Uniformed Grant Guidance

• Consider internal

control over compliance for the purpose of reporting

• n internal control
• ver compliance
• Examine compliance

with 2 CRF 200 for purpose of expressing an opinion on compliance

Compliance Reporting and Opinions:

Material Weakness in Internal Controls over Inventory Noncompliance over Conflict of Interest No reported Material Weakness or Noncompliance

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Required Communications

• Accounting Policies
• Management Judgment and Accounting Estimates
• Audit Adjustments and Uncorrected Misstatements
• Disagreements with Management
• Difficulties Encountered in Performing the Audit
• Consultation with Other Accountants
• Client Communications
• Independence
• Future Accounting and Reporting Changes

Required Communications

Your Guide Forward

Greg Miller Director 804.673.5742 gmiller@cbh.com Laura Beckler Manager 703.584.8389 lbeckler@cbh.com

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