Auditing

The audit type required is listed table below. This list is based on state and federal laws.

Type of Audit or Review Required:	Threshold	Contractor	Term	Comments:
(State law) Review Due June 30	*REVENUES (All Funds) $750,000 or less	By Contracted Auditor The OPI or Dept. of Administration will notify district. Contract must be done through the Dept. of Administration as 3rd party	One year at a time with a rotating 4-year schedule.	A review of procedures, especially for recording and reporting revenues and expenditures.
(State Law) Regular (Yellow Book Audit) Due June 30	*REVENUES (All Funds) More than $750,000	By Contracted Auditor Dept. of Administration has standard contracts and a roster of authorized Auditors	Usually Annual	May be for two years, if approved by Department of Administration.
(Federal Law) Federal Audit Due March 31	FEDERAL EXPENDITURES (Including USDA Commodities) $750,000 or more	By Contracted Auditor Department of Administration has standard contracts and a roster of authorized Auditors.	Annual	Regular Audit, plus additional procedures to review and report on federal programs.

Type of Audit or Review Required:

Threshold

Contractor

Term

Comments:

(State law)

Review

Due June 30

*REVENUES (All Funds)

$750,000 or less

By Contracted Auditor
The OPI or Dept. of Administration will notify district. Contract must be done through the Dept. of Administration as 3rd party

One year at a time with a rotating 4-year schedule.

A review of procedures, especially for recording and reporting revenues and expenditures.

(State Law) Regular
(Yellow Book Audit)
Due June 30

*REVENUES (All Funds) More than $750,000

By Contracted Auditor
Dept. of Administration has standard contracts and a roster of authorized Auditors

Usually Annual

May be for two years, if approved by Department of Administration.

(Federal Law) Federal Audit

Due March 31

FEDERAL EXPENDITURES (Including USDA Commodities)
$750,000 or more

By Contracted Auditor
Department of Administration has standard contracts and a roster of authorized Auditors.

Annual

Regular Audit, plus additional procedures to review and report on federal programs.