Jan-Feb 2018 Information Item 4

Annual Report of the Division of Financial Compliance

February 2, 2018

STATE BOARD OF EDUCATION: INFORMATION

SUMMARY: This item provides the board with an annual review of the work accomplished by the division responsible for state financial reviews. The report describes the division’s organization and legal responsibilities, deviations from the 2016-2017 audit plan, and the status of reports on the division's reviews.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Title 19 Texas Administrative Code §109.21 requires the commissioner of education to report to the State Board of Education at least annually on the progress of each fiscal year's audit plan. The 2016-2017 audit plan was submitted to the Committee on School Finance/Permanent School Fund for review and comment in July 2016.

FISCAL IMPACT: None.

PUBLIC AND STUDENT BENEFIT: Communicates the results of the Financial Compliance Divisions efforts to ensure public funds are being spent efficiently and for the benefit of the students.

PROCEDURAL AND REPORTING IMPLICATIONS: None.

PUBLIC COMMENTS: None.

ALTERNATIVES: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:
David Marx, Director
Financial Compliance

Attachment:
Annual Report of the Division of Financial Compliance (PDF, 267KB)