South Carolina Code 59-53-1930. Fiscal year; audits
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Terms Used In South Carolina Code 59-53-1930
- 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.
The boards shall conduct their affairs on the fiscal year basis employed by the State. As soon after the close of each fiscal year as may be practicable, an audit of school affairs must be made by a certified public accountant, to be designated by the boards. Copies of the audits, incorporated into annual reports of the boards, must be filed with the cooperating school districts.