School Finance

FY2008-09 Federal A-133 Audits

Monday, March 1, 2010, 10:20 am

A-133 "Federal " audits for FY2008-09 are due to OPI by March 31, 2010.  This affects districts and cooperatives that spent more than $500,000 of federal money (including USDA commodities) during FY2008-09.

For districts and cooperatives that spent less than $500,000 of federal funds and received more than $500,000 of revenue from all sources during FY2008-09, audits are due June 30, 2010. 

Audited financial statements must comply with national reporting requirements passed by the Governmental Accounting Standards Board (GASB) under Statement No. 34.  For more information about GASB 34, see the GASB 34 webpage at this link:  /Finance&Grants/schoolfinance/Index.html#p7GPc1_11

For more information, contact Rebecca Phillips, (406) 444-0783