Week 4

Part 5-

I met with my site supervisor to discuss more of the financial processes of our district, as well as the financial processes put in place by the state to make sure districts are being fiscally responsible. In this meeting we discussed in detail the FIRST system along with the financial audit process that the district completes every year. The topic of transparency in activities was again prominent in our interview. Mrs. Wright has stressed in every one of our meetings that transparency in your actions should be the prominent factor in every action a superintendent takes.

In terms of the district’s audit process, it is very straight forward and follows the same direction every year. The external auditor is selected by the district RFQ - Request for Qualifications. (Bids) The LISD Board of Trustees reviews the RFQ and votes on which auditor will be approved. The audit is conducted at LISD Central Office. It is a desk top audit. The auditors ask questions regarding the special programs such as Special Ed and Title I programs. The audit concludes whether or not the district is in compliance with general accounting procedures as well as with GAO Government Accounting Office standards. The results are communicated as follows:
               1.The company determines if the district is in compliance and does put this detailed report in writing. 

               2. This booklet/report is then reviewed in an open School Board Meeting AND a PUBLIC Meeting. The PUBLIC Meeting is held first and then the Board Meeting generally follows.