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Meeting Date:
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12/15/2016 - 7:00 PM
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Category:
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New Business and Reports to the Board
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Type:
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Info/Action
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Subject:
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Comprehensive Annual Financial Report 2016
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ACPS 2025 Strategic Plan Goal:
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Objective 6.1 Fiscal Policies and Practices ACPS will plan, manage, monitor, and report spending to provide decision-makers and the community with a reliable, accurate, and complete view of the financial performance of the educational system at all levels.
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Funding Source or Fiscal Impact (where applicable)
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File Attachment:
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Agenda Item Summary:
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Annual presentation of the Comprehensive Annual Financial Report (CAFR) as required by School Board Policy DI.
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Background:
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The independent auditors from CliftonLarsonAllen LLP (CLA) have reviewed the comprehensive annual financial report (CAFR) as prepared by ACPS financial staff and completed the FY 2016 annual financial report on November 14, 2016. This was conducted in accordance with the standards applicable to financial audits, including Government Auditing Standards issued by the Comptroller General of the United States and the specific standards of audits for local jurisdictions issued by the Auditor of Public Accounts (APA) of the Commonwealth of Virginia. The auditors’ primary focus is to obtain reasonable assurance about whether the financial statements are free of material misstatement and to ensure that internal controls as defined by the audit standards are in place.
As required by the Code of Virginia, Section 15.2-2510, the attached audited financial report for the Alexandria City Public Schools for the fiscal year ended June 30, 2016 was submitted on November 30, 2016 to the Auditor of Public Accounts (APA) of the Commonwealth of Virginia. The CLA auditors are prepared to discuss this report at the School Board meeting scheduled for December 15.
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Recommendation:
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The Superintendent recommends that the School Board accept the FY 2016 Comprehensive Annual Financial Report (CAFR).
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Approvals:
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Recommended By:
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Signed By:
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Mike Herbstman - Chief Financial Officer
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Signed By:
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Alvin Crawley - Superintendent
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Vote Results:
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| Original Motion | | Member Margaret Lorber Moved, Member William E. Campbell seconded to approve the Original motion 'The Superintendent recommends that the School Board accept the FY 2016 Comprehensive Annual Financial Report (CAFR).'. Upon a Roll-Call Vote being taken, the vote was: Aye: 8 Nay: 0. | | The motion Carried 8 - 0 | | | | | William E. Campbell | Yes | | Karen Graf | Yes | | Christopher J. Lewis | Yes | | Ramee A. Gentry | Yes | | Henry E. Cardwell | Yes | | Margaret Lorber | Yes | | Cindy Anderson | Yes | | Veronica R. Nolan | Yes | |
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