Changes were made to the Charter School Audit Guide in fiscal year 2016. They consist of the increase in the threshold from $500K to $750K for a Uniform Guidance audit (formerly an OMB Circular A-133 audit). The sample financial statements have been revised to satisfy these changes, as well as Government Accounting Standards Board (GASB) No. 68 requirements (on-behalf of pension).
In addition, the compliance section relating to the submission of the board member’s conflict of interest forms and other documents are now required to be submitted through the Board Member Management System.