Arizona Laws 15-1473. Uniform system of accounting for community college districts; duties of auditor general; posting; budget; accepting audit results
A. The auditor general shall determine the accounting systems, accounting methods and accounting procedures for use by the community college districts.
Terms Used In Arizona Laws 15-1473
- Community college: means an educational institution that is operated by a district board and that provides a program of not more than four years' training in the arts, sciences and humanities beyond the twelfth grade of the public or private high school course of study or vocational education, including terminal courses of a technical and vocational nature and basic adult education courses. See Arizona Laws 15-1401
- District: means a community college district that is established pursuant to sections 15-1402 and 15-1403 or Section 15-1402. See Arizona Laws 15-1401
- District board: means the community college district governing board. See Arizona Laws 15-1401
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fiscal year: means the year beginning July 1 and ending June 30. See Arizona Laws 15-101
B. The auditor general, in conjunction with the community college districts, shall prescribe a uniform system of accounting as provided in Section 41-1279.21 for use by all community college districts.
C. The financial statements required to be filed with the auditor general pursuant to Section 41-1279.07 must be posted in a prominent location on the official website of the community college district not later than seven business days after the date of filing the financial statements with the auditor general. The financial statements must be retained and accessible in a prominent location on the official website for at least sixty months. If the financial statements are not filed pursuant to Section 41-1279.07, the form as prescribed by subsection D of this section shall be posted on the website of the community college district in place of the financial statements until the financial statements are filed.
D. If the financial statements for a community college district are not completed and filed as prescribed by Section 41-1279.07 on or before the adoption of the community college district budget in the subsequent fiscal year, the board of directors must include a form, prescribed by the auditor general, in the published budget in the subsequent fiscal year pursuant to section 15-1461 stating that the financial statements required to be filed with the auditor general pursuant to Section 41-1279.07 are pending, the reasons for the delay and the estimated date of completion.
E. If the community college district board of directors is required to complete the form as prescribed by subsection D of this section, the board of directors shall send a copy of the form to the auditor general, the speaker of the house of representatives and the president of the senate.
F. Within ninety days after completing an audit pursuant to this section, the community college district board of directors shall require the auditor who performed the audit to present the audit results and any findings to the board in a regular meeting without the use of a consent agenda, and the board shall demonstrate compliance with section 41-1494.