The Board of Education requires, after the close of the fiscal year (June 30^th), that an audit of all accounts of the County be made annually by an independent, certified public accountant. The audit examination shall be conducted in accordance with generally-accepted auditing standards and shall include all funds over which the Board has direct or supervisory control.

The Treasurer shall also prepare and publish an audited statement of the financial condition of the Board at the close of each fiscal year, on or before the ninetieth day of the next succeeding fiscal year.

The Board is responsible for ensuring that an annual examination is conducted of the financial records of every school within the County. The examination is to include all funds maintained by the school and should be completed in accordance with applicable federal, state and local guidelines.

A report is to be issued for each school individually in which is presented the financial statements of each fund maintained by the school and all instances of noncompliance and other reportable conditions noted during the examination.

The examination is to be completed and the report issued within nine (9) months after the end of the fiscal year except that county boards that have twenty (20) or more schools and conduct the school examinations with their own personnel may have an additional three (3) months in which to complete the examination of all schools and issue the individual reports.. The examination may be conducted by CSBO, staff of the CSBO under the supervision of the CSBO, by a certified public accountant, or by the State Auditor’s Office, Chief Inspector Division.

The financial records may be examined in accordance with agreed upon review procedures developed by the County Board. Such procedures, however, must include a review of compliance with the provisions of this manual and policies and regulations of the County Board and a review of the school's internal control structure. See Form 6830 F1 for a checklist of items which must be included in a school's annual review.

Copies of the report are to be provided to the County Board of Education, to the Superintendent and to the school principal. A copy of each school's report is to be kept on file at the Central Board office and made available for public review.

If any reportable conditions are noted in the report for a particular school, the principal is to provide the Board with a corrective action plan. All reportable conditions are to be corrected as soon as practical but not later than six (6) months after receipt of the report.

Working papers supporting the examination are to be prepared and retained for at least three (3) years. The working papers are to be made available to the auditor conducting the subsequent year's examination.

The cost for the examination will be paid by the Board.

All transaction journals, bank statements, receipt books, checkbooks, canceled checks, invoices, purchase orders, and other related records which may be requested are to be available to the auditor for examination upon request.

In addition to an annual examination of each school, periodic reviews may be made of each school by the chief school business official or a member of that individual's staff to review internal control procedures, to ensure that transactions are being posted in a timely fashion and to provide assistance during the course of the year if needed.

The Board may elect, by May 1st of the fiscal year to be audited, to have its annual examination performed by a certified public accountant approved by the Chief Inspector to perform the examinations. When this election is made, a copy of the order of the board making the election shall be filed with the Chief Inspector and the State Board of School Finance. The county board is allowed to contract with any certified public accountant on the Chief Inspector's then current list of approved certified public accountants, unless the state board of school finance or the prosecuting attorney of Roane County submits to the Chief Inspector a written request for the examination to be performed by the Chief Inspector or a person appointed by the Chief Inspector, or the Chief Inspector determines that a special or unusual situation exists. The Board shall follow the audit bid procurement procedures established by the Chief Inspector in obtaining the audit.

The Board, when procuring the services of a certified public accountant on the Chief Inspector's list, shall follow the procurement standards prescribed by the Grants Management Common Rule, OMB Circular A-102 "Grants and Cooperative Agreements with State and local Governments" in effect for the fiscal year being examined, or in any replacement circular or regulation of the Office of Management and Budget and in addition shall follow those standards as determined by the Office of Chief Inspector.

Upon completion of the certified public accountant's examination and audit or review report, the certified public accountant shall promptly send two (2) copies of the certified report to the Board who shall file one (1) copy with the Federal audit clearing house. The certified public accountant shall send one (1) copy of the certified report to the State Board of School Finance, and one (1) copy to the Chief Inspector.

If any examination discloses misfeasance, malfeasance or nonfeasance in office on the part of any public officer or employee, the certified public accountant shall submit his/her recommendation to the Chief Inspector regarding the legal action the approved certified public accountant considers appropriate, including, but not limited to, whether criminal prosecution or civil action to effect restitution is appropriate, and three (3) additional copies of the certified audit report.

The governing boards of the multi-county vocational centers are responsible for ensuring that an annual examination is conducted of the school activity accounts of the multi-county vocational centers. The examination of the school activity accounts of multi-county vocational centers can be conducted as a separate examination or it can be incorporated into the audit of the general revenue funds of the multi-county vocational center conducted under the audit jurisdiction of the State Auditor’s Office.

WV State Board policy 1224.1
WV Code 6-9-1 thru 9a