715P - Audit

The accounts and records of Frederick County Public Schools shall be audited annually as of June 30 by a qualified independent certified public accounting firm in accordance with specifications furnished by the Auditor of Public Accounts Additionally, projects or programs involving state and/or federal funds are subject to audit by external auditors. 

All local school activity funds shall be audited annually by qualified independent auditors as of the same fiscal year end date. A copy of the report resulting from the audit of student activity funds shall be reviewed by the superintendent and the School Board and filed in the Finance Department. 

All schools, departments, and functions may be subject to financial and nonfinancial audits by the executive director of finance, internal auditors, or external auditors.  There may be special audits of individual school accounts at the request of the school board and whenever there is a change in principal or bookkeeper. 

The superintendent shall promulgate regulations for internal and external audits to ensure compliance.


Legal Reference(s): 
United States Code, Title 31, Subtitle V, Chapter 75

Code of Virginia Section(s) 15.2-2511, 22.1-122.1

8VAC 20-240-40


Adopted: February 6, 1990
Amended: August 21, 2007
Amended: March 1, 2011