DIEA January 2026.pdf (66 KB)

​Boulder Valley School District​ ​File: DIEA​ ​Adopted: September 28, 2004​ ​Revised:​ ​June 9, 2009​, February ___, 2026​ ​___________________________________________________________________________________​ ​DISTRICT​​AUDIT COMMITTEE​ ​The Board has the responsibility to​​the School​​District​’s​​residents and taxpayers to properly account for​ ​public funds. In keeping with the adopted principles of sound financial management, the Board​ ​establishes an Audit Committee to assist in its oversight responsibilities. The primary responsibilities for​ ​the​​District​​Audit Committee shall be as follows:​ ​●​ ​Recommend the selection of an external auditor, considering independence, qualifications and​ ​cost of services.​ ​●​ ​Review the scope, plan and coordination of the independent audit efforts.​ ​●​ ​Consider the auditor’s findings and recommendations for appropriate actions.​ ​●​ ​Meet with the auditor to discuss the audit report​ ​●​ ​Review quarterly financial reports provided by the district.​ ​●​ ​Review​​the School​​District​’s​​financial policies and procedures.​¶​ ​●​ ​Review any new debt issuance.​ ​●​ ​Encourage continuous improvement of​​the School​​District​’s​​financial policies and procedures.​ ​●​ ​Meet with the auditor to discuss the audit report​ ​The​​District​​Audit Committee shall be comprised of five members: two Board members, one being the​ ​Board Treasurer who shall serve as chair of the​​District​​Audit Committee, and the other member​ ​appointed by the Board for a two year term; the​​School​​District’s Chief Financial Officer; the​​School​ ​District’s Director of Accounting Services; and a community member with expertise in governmental​ ​accounting and​/or​​financial management. The community member will be selected by the​​District​ ​Audit Committee and recommended to the Board​​for​​a two​-​​year term. The​​School​​District’s​ ​independent auditor may be asked to attend selected committee meetings.​ ​The​​District​​Audit Committee shall meet​​three​at least four​​times annually, or more frequently, as​ ​circumstances dictate.​ ​The Committee shall submit a report to the Board at the end of each fiscal year detailing its activities​ ​during the fiscal year.​ ​LEGAL REFS.:​ ​C.R.S. § 22-32-109(1)(k) (​Board of Education-specific​​duties​)​ ​C.R.S. § 22-54-101,​​et seq.​​(​Public School Finance​​Act of 1994)​ ​C.R.S. § 29-1-601,​​et seq​. (​Local government audit​​law​)​ ​CROSS REFS.:​

​BBA​, School Board Powers and Duties​ ​DI​, Fiscal Accounting and Reporting​ ​DIE​, Audits​ ​End of File: DIEA​