|The School Board of Miami-Dade County|
|Bylaws & Policies|
|Unless a specific policy has been amended and the date the policy was revised is noted at the bottom of that policy, the Bylaws and Policies of the Miami-Dade County Public Schools were adopted on May 11, 2011 and were in effect beginning July 1, 2011.|
6840 - AUDIT AND BUDGET ADVISORY COMMITTEE
The general purpose of the Audit and Budget Advisory Committee is to review and make recommendations to the School Board and Superintendent on fiscal management matters presented to the committee by either the Board or the Superintendent. The Audit and Budget Advisory Committee shall serve as the principal advisory committee to assist the Board in fulfilling its fiduciary responsibilities on budgeting, financial reporting and accounting and business policies and practices and is the Board's principal agent in ensuring the independence of the District's external and internal auditors.
The Audit and Budget Advisory Committee's goals are to assist in:
|A.||strengthening accountability for the stewardship and efficient and effective use of School District funds;|
|B.||maintaining transparency of the District's financial and business operations; and|
|C.||promoting an adequate system of internal control.|
Members of the Audit and Budget Advisory Committee should reflect the Board's commitment to diversity, have a basic understanding of finance and accounting and be able to understand and interpret financial statements and audit reports. Members should have a background in auditing, accounting, finance, business, management consulting, or law.
The members of the Audit and Budget Advisory Committee are:
|A.||eleven (11) members and alternates from the community not employed by the School District or having any direct or indirect business dealings with the School District;|
|The nine (9) Board members will each select one (1) appointee and alternate.|
|One (1) voting member and alternate appointed by the Superintendent.|
|One (1) voting member and alternate appointed by the Miami-Dade County Council of PTAs/PTSAs.|
|B.||one (1) voting Board member and alternate appointed by the Chair of the Board;|
|The Board member or alternate appointed to the Audit and Budget Advisory Committee shall vote on all matters that come before the Audit and Budget Advisory Committee.|
|C.||one (1) non-voting member from the District to be appointed by the Superintendent;|
|D.||the Chief Auditor shall serve as the District's liaison and provide administrative and logistical support to the Audit and Budget Advisory Committee.|
The Audit and Budget Advisory Committee shall elect a chair and vice-chair from its community members. An Audit and Budget Advisory Committee member may not serve more than four (4) consecutive years as either chair or vice-chair.
Term of Service
The term of service is two (2) fiscal years. The terms of community members nominated by Board members shall be consistent with the terms of their respective nominating Board members. Newly appointed Board members shall have the discretion to retain the former Board memberís appointee or to nominate a new committee member. A memberís term may be extended beyond the two (2) year term by nomination by any Board member. Community members may be removed should they miss three (3) consecutive regular meetings without good cause upon a majority vote of the audit committee.
The Audit and Budget Advisory Committee will meet on a regular basis throughout the fiscal year with the first meeting to be scheduled in early September and the last meeting in late June. The committee will meet at least six (6) times during the fiscal year, subject to any unforeseen circumstances such as natural disasters, emergencies, etc.
When deemed necessary and appropriate, special meetings of the Audit and Budget Advisory Committee may be called by the Chief Auditor or by the chair of the Audit and Budget Advisory Committee. Such special meetings shall require at least two (2) days prior public notice.
A majority of the voting members shall constitute a quorum for the committee in order to conduct business.
All committee and subcommittee meetings are governed by the Floridaís Government in the Sunshine and Public Records Laws, F.S. Chapter 119 and 286.011. Meetings will be held in open public sessions and all materials made or received by the Audit and Budget Advisory Committee in connection with official business are available for public inspection.
The Office of Management and Compliance Audits is responsible for providing administrative support to the committee, including publishing meeting notices, keeping its minutes, establishing the agenda in collaboration with the chair of the Audit and Budget Advisory Committee, and gathering the supporting documentation for distribution, and ensuring the smooth operation of the committee affairs.
The Audit and Budget Advisory Committee is advisory in nature. Its recommendations regarding audit findings and exceptions, and other items will be provided in writing to the Board and Superintendent. In its advisory role, the Audit and Budget Advisory Committee is subject to the control and direction of the Board.
Duties and Responsibilities
The duties and responsibilities of the Audit and Budget Advisory Committee are:
|A.||with regard to the external auditor:|
|1.||serve as the committee to select and recommend the hiring of the external auditing firm to conduct the District's annual audit according to Florida statutes and assist in the development of the external audit contract;|
|2.||oversee the work and evaluate the qualifications, performance, and independence of the external auditor and recommend the termination or replacement of the external auditor;|
|3.||review with the external auditor their annual audit plan;|
|4.||review the Consolidated Annual Financial Report (CAFR), Management Letter, and Single Audit Report with the external auditor and District staff and make recommendations as appropriate;|
|5.||the Chief Auditor will provide administrative support to the committee for all external audit contracts.|
|B.||with regard to the District's budgeting and financial management:|
|1.||with the Chief Financial Officer, review proposed annual budgets, revenues, and expense forecasts and forecast assumptions, and budget amendments;|
|2.||receive periodic progress reports from the Chief Financial Officer regarding the District administration's collection and disbursement of financial resources pursuant to the District's budget;|
|3.||receive periodic reports from and consult with the Chief Financial Officer on the adequacy of the District's budget and tracking system;|
|4.||make recommendations to the Superintendent and Board to improve the quality and reliability of budgeting and accounting for the results of financial operations and not opine on the policy and programmatic implications of budget proposals and amendments.|
|C.||with regard to the Chief Auditor and the Office of Management and Compliance Audits:|
|1.||review the annual budget of the Office of Management and Compliance Audits and make recommendations to the Board and the Superintendent as to the sufficiency of the budget;|
|The budget shall make adequate provisions for external auditing fees, staffing of the office, required continued professional education/staff development, equipment, and supplies. The committee should review the costs of the use of outside professional services deemed necessary by the Chief Auditor and make recommendations to the Board.|
|2.||review, provide feedback and approve the annual Audit Plan presented by the Chief Auditor;|
|Receive periodic updates on the progress in completing the Audit Plan and confer with the Chief Auditor on any significant changes in the required planned scope of the annual Audit Plan.|
|3.||review the operations and projects against the Audit Plan to determine the progress made in the execution of the Audit Plan;|
|4.||review internal audit reports with the Chief Auditor and District administration and make recommendations regarding audit findings, recommendations, and management responses;|
|5.||serve as the committee, in consultation with the Superintendent, to make recommendations to the Board on the person to fill the position;|
|At the request of the Board, the committee will provide recommendations on the contractual provisions for the position of Chief Auditor. Prior to negotiation of the employment contract, the Board shall conduct a workshop to provide guidance to the Boardís designated negotiator.|
|6.||any recommendation for the removal or transfer of the Chief Auditor not made by the Audit Committee and the reasons for such removal or transfer shall be brought before the committee to obtain its recommendation to the Board;|
|7.||in conjunction with Board members and at each Board member's sole discretion, review the Chief Auditor's performance. Written evaluations will be kept on file.|
|D.||review and make recommendations on the audited financial statements of the District's charter schools, community-based organizations, direct support organizations and audits of impact fees, and any other relevant external audits brought before the committee;|
|E.||review and make recommendations on District-related audit reports prepared by Federal and State auditors;|
|F.||provide an effective communication link between the external and internal auditors, the Board, and the Superintendent to accomplish the following objectives:|
|1.||completeness of audit coverage;|
|2.||reduction of redundant efforts; and|
|3.||effective use of audit resources.|
|G.||receive and comment on periodic updates of selected audit follow-up regarding corrective action(s) being taken by the administration to implement audit recommendations;|
|H.||submit periodic reports, at least annually, on the work of the Audit and Budget Advisory Committee, to the Board and the Superintendent;|
|I.||review and make recommendations on any amendments to Policy 6835, Policy 6840, and Policy 0157;|
|At the request of the Board, provide input to the Board with respect to the selection of the Inspector General, and with regard to the operation of the Inspector General as more specifically outlined in Policy 0157.|
|J.||receive and review reports from the Inspector General and receive, review, and monitor corrective action plans and responses submitted pursuant to Inspector General reports or recommendations.|
F.S. 119.07(3)(y), 286.011, 1001.32, 1001.41(1)(2), 1012.31
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