THE POLICY
It is the policy of the Beaver County School District Board of Education to be in compliance with all applicable federal and state accounting laws and policies including Generally Accepted Accounting Principles (GAAP), applicable Governmental Accounting Standards Board (GASB) standards, State of Utah Legal Compliance Audit Guide, and the current district procedures.
An independent certified public accounting firm will be selected by the Board of Education and will perform an annual audit, and will publicly issue their opinion on the district’s financial statements.
The purpose of this policy is to safeguard district assets by requiring accurate, clear, and complete records of all financial transactions for which the board is accountable.
District Financial Reporting & Audits
REFERENCES
Training for Administrators and Staff
Utah Administrative Code R277-425
Utah Administrative Code R277-113 - LEA Fiscal Policies & Accountability
United States Generally Accepted Accounting Principles (GAAP)
BCSD District Accounting Procedures
BCSD School Activity Accounting Procedures
Office of Management and Budget Circulars
Governmental Accounting Standards Board (GASB)
Financial Accounting Standards Board (FASB)
Utah State Office of Education - School Finance References and Resources