Code No. 707.6
The board recognizes that it is charged with raising tax revenues and related expenditures to maintain the educational program for the school district. Public funds are held in trust by the board to be spent appropriately on the educational program. To further ensure funds are spent appropriately, the board establishes an audit committee to assist the board on internal financial matters and with the annual audit.
The North Polk Community School District shall have an Audit Committee consisting of one Board member and an alternate appointed by the Board President, a member of the Iowa Society of Certified Public Accountants, the district business manager and superintendent. It shall be the responsibility of the Audit Committee to (1) review the previous year’s draft audit report to ensure that the recommendations are addressed and (2) review the implementation of the current year’s budget. The Audit Committee shall select a chair and meet at least annually as determined by the committee. The Audit Committee shall be considered a subcommittee of the Board and shall meet the requirements of the open meetings law. Audit Committee minutes will be provided to the Board.
The major responsibilities of the audit committee are to:
- Annually report to the board about the annual audit.
- Recommend internal changes that may need to be made to ensure appropriate internal controls are being implemented.
Legal References: American Competitiveness and Corporate Accountability Act of 2002, Pub. L. No. 107-204.
Iowa Code ch. 11, 279.8 (2009).
Cross References: 208 Ad Hoc Committees
707.5 Internal Controls
Reviewed: 01/18/2007, 08/25/2011, 08/18/2016