Original Adopted Date:  8-12-24                                              Last Revised Date:                                                      Last Reviewed Date: 8-12-24

The board recognizes that it is charged with raising tax revenues and related expenditures to maintain the educational program for the school district.  Public funds are held in trust by the board to be spent appropriately on the educational program.  To further ensure funds are spent appropriately, the board establishes an audit committee to assist the board on internal financial matters and with the annual audit.  

The audit committee is comprised of six members. Two board members, two community members, and two administrators.

The audit committee may at their discretion select a chair. The audit committee chair is selected by the board.

The major responsibilities of the audit committee are to:

• Recommend an auditor to the board every five years.

• Oversee the selection of the independent auditor and the resolution of audit findings including compliance with the mandatory request for proposal process. 

• Act as a liaison between the board and the auditor during the audit process.

• Annually report to the board about the annual audit.

• Recommend internal changes that may need to be made to ensure appropriate internal controls are being implemented.

• (insert other duties as desired by the board)

The audit committee will meet as directed by the board president.  The audit committee is subject to the open meetings law.

I.C. Iowa Code Description

Iowa Code § 279.8 Directors - General Rules - Bonds of Employees

Iowa Code § 11 Auditor of State

Cross References

Code Description

208 Ad Hoc Committees

208-E(1) Ad Hoc Committees - Exhibit

707.5 Internal Controls

707.05-R(1) Internal Controls - Procedures