Section 4 AAC 06.121 - Annual financial reporting requirementsEffective August 5, 1990, a school district's annual audit report under AS 14.14.050 must meet the following requirements:
(1) the financial reports must be in conformity with generally accepted accounting principles defined in the Codification of Governmental Accounting and Financial Reporting Standards adopted in 4 AAC 06.120(a) (1);(2) all governmental money shall be reported on the modified accrual basis of accounting;(3) the effective dates of state and federal laws stipulating financial reporting requirements for school districts govern the content of an audit acceptable under AS 14.14.050;(4) financial audits shall report data for all required codes contained in the Uniform Chart of Accounts for Public School Districts, adopted by reference in 4 AAC 06.120(a) (2); revenue and expenditure codes for which there were no transactions during the audit period need not be reported;(5) the following additional special reports must be submitted, on a form prescribed by the department, with the annual audit report: (A) Auditor's Report on Fund Balance Compliance based upon the requirements of AS 14.17.505;(B) Auditor's Report on Compliance based upon the employee bonding requirement of AS 14.14.020;(D) Certified Auditor's Report of Reimbursable Expenditures for School Construction based upon the requirements of AS 14.11.100 and 4 AAC 31.060;(E) Certified Tuition Rate Report based upon the requirements of 4 AAC 09.030.Eff. 8/5/90, Register 115; am 12/30/98, Register 148; am 5/4/2000, Register 154Authority:AS 14.07.020
AS 14.07.060
AS 14.14.050