This notice is to remind you that the Independent Audit is due to SED by October 15th for all school districts within NYS (Independent Audits for Big 5 School Districts are due on January 1st). However, since the deadline falls on a Sunday this school year, audited financial statements may be submitted the next business day which is October 16th. Please be aware of the impact of late filed Independent Audits on State Aid Payments: https://stateaid.nysed.gov/payment/htm_docs/ia_memo_1718.htm.
Below are additional procedures the district must follow:
The Independent Audit Report should be sent submitted to SED via the Business Portal and to OSC via email or mail using the information below:
- NYSED Business Portal Link: https://portal.nysed.gov/abp
AND TO :
- OSC Electronically or By Mail:
Email: afrfile@osc.state.ny.us
Mailing Address:
Office of the State Comptroller
Division of Local Government Services and Economic Development
Data Management Unit, 12th Floor
110 State Street
Albany, New York 12236 (One Copy)
The board resolution to accept the audit report can be filed, via the portal, after the Independent Audit Report has been submitted.
Any management letter and corrective action plan must also be sent to SED, via the portal, within 90 days of receipt of such letter. A federal single audit must be submitted to the Federal Clearinghouse and SED (via the portal) within 30 days of receipt or by March 31st, whichever is sooner.
In addition, the board must post on the district’s website the financial statements and any corrective action plans.
Finally, if you haven’t already done so, be certain that your district submits the Office of the State Comptroller’s Certification of the Annual Financial Report (ST-3). The form (which can found on SAMS) must be printed out and mailed to the Comptroller’s office. For more information on audits of financial statements, visit: http://www.p12.nysed.gov/mgtserv/documents/2017ReferenceManual.pdf.
