January-February 2023 Information Materials Item 4

Annual Report of the Division of Financial Compliance

February 3, 2023

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 2021-2022 audit plan, and the status of reports on the division's reviews.

BACKGROUND INFORMATION AND JUSTIFICATION: 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 2021-2022 audit plan was submitted to the Committee on School Finance/Permanent School Fund for review and comment in July 2021.

PUBLIC AND STUDENT BENEFIT: Communicates the results of the Financial Compliance Division’s efforts to ensure public funds are being spent efficiently.

Staff Member Responsible:    
David Marx, Director of Financial Compliance

Attachment:          
Annual Report of the Division of Financial Compliance