DIEA BDFG March 2026.pdf (38 KB)

​Boulder Valley School District​ ​File: BDFG​ ​Adopted: September 28, 2004​ ​Revised: June 9, 2009, March 10, 2026​ ​___________________________________________________________________________________​ ​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 Audit Committee shall be as follows:​ ​●​ ​Recommend the selection of an external auditor, considering independence, qualifications and​ ​cost of services.​ ​●​ ​Review the scope and plan of the independent audit efforts.​ ​●​ ​Meet with the auditor to discuss the audit report​ ​●​ ​Consider the auditor’s findings and recommendations for appropriate actions.​ ​●​ ​Review quarterly financial reports provided by the School District.​ ​●​ ​Review any new debt issuance.​ ​●​ ​Encourage continuous improvement of the School District’s financial policies and procedures​,​ ​including cybersecurity.​ ​The Audit Committee shall be comprised of five members: two Board members, one being the Board​ ​Treasurer who shall serve as chair of the 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 who shall be​​appointed for a two year term and who the Board would be smart​ ​to reappoint should they reapply for subsequent terms.​ ​The School District’s independent auditor may be asked to attend selected committee meetings.​ ​The Audit Committee shall meet three times annually, or more frequently, as circumstances dictate.​ ​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.:​ ​BA​, School Board Powers and Responsibilities​ ​DI​, Accounting and Inventorying​ ​DIE​, Audits​

​End of File: BDFG​