Last year T.E.A. implemented a new procedure REQUIRING school district personnel to go online and confirm the data submitted in the AUDIT DATA FEED filing. Their objective was to insure that the data feed numbers are consistent with those in the pdf financial statements. Click here for a document provided by T.E.A providing detailed instructions for this procedure. THESE PROCEDURES SHOULD BE PERFORMED NO LATER THAN THE filing deadline.
Please be sure to run the check routines in AUDIT-L.E.A. first before you submit and finalize the audit data feed.
Please remember that T.E.A. does not require the Audit Data Feed to include the numbers in the non-major governmental column on Exhibits C1 and C2. Only the data from the major fund columns and the Total Governmental columns will be reported. Exhibit A1 will have only one column if your district has no business-type activities or component units, but in the data feed you will have a duplicate column for the total primary government. Last year the deferred resource flow items were not itemized in the Audit Data Feed. We have not yet learned if that will change for the FY 2014 filings. We will keep you posted.
Powerful Analytical Tools to Audit, Manage and Prepare Reports for Texas School Districts!
SAVE TIME AND MONEY!
Release 18 implements GASB 63 and GASB 65 throughout all exhibits - fund level, government-wide and combining statements. There is also NEW guidance for testing for Maintenance of Effort compliance for both IDEA B (Special Education) and NCLB (Title I).
Using AUDIT-L.E.A., School Districts can get their financial data in order so that the auditor does not have to spend time "cleaning up the data". This helps the auditor maintain independence! When the auditor can have confidence in the data provided by the District, less audit time is required!
AUDIT-L.E.A. is a powerful tool for school district management. It does much more than prepare financial statements! School Districts can use AUDIT-L.E.A. to prepare monthly reports OR interim reports to see if the district is “on track” for meeting GAAP and T.E.A. requirements. Filters and queries allow analysis of particular funds, functions and/or PIC codes to monitor compliance with State and Federal requirements. With tight budgets, this may be more important than ever!
AUDIT-L.E.A. can assist districts in “overseeing” the year-end accounting adjustments and the conversion and consolidation adjustments necessary to prepare the government wide statements. WITH AUDIT-L.E.A. DISTRICTS CAN DEMONSTRATE COMPENTENCY as required by GAO and AICPA. Some Districts may wish to generate their own financial statements.
AUDIT-CITY RELEASE 11 FOR fy2014 is now ready to download and ship. Place your order today!! There are many features we believe you will love! AUDIT-CITY incorporates all of the changes required by GASB 63 and GASB 65. The auditors' reports have been revised according to the latest AICPA Guides. Let AUDIT-CITY help keep you current!
Many of the routines have been rewritten to greatly speed up the procedures importing and updating information from the crosswalk file. We think you will be very pleased with these changes!!!
AUDIT-CITY Release 11 provides many routines for you to use to filter, query, and analyze trial balance data and then export or print the results. This is a valuable tool in conducting the audit and in preparing the ANNUAL REPORT for Cities, Counties or other Governmental Entities! BEGIN WITH THE TRIAL BALANCE AND END WITH THE FINANCIAL REPORT.
Use the powerful check routine to ensure the accuracy of the report.
Lead sheets and Budget to Actual reports and Current Year to Prior Year comparisons are available at either the account level or at an aggregated level.
EdMIS brings you a software package for gathering trial balance data, entering and recording adjusting entries, gathering data into data files, and producing a GASB or Cash-Basis OCBOA annual report for governmental entities. The analytical routines and reports are excellent audit and management tools and the drill down routine allows you to see in an instant what accounts in the trial balance compose a single item in the financial report.
In creating AUDIT-CITY for cities and counties, we have incorporated many of the outstanding features of AUDIT-L.E.A. — a successful audit/report generator used by school districts and their auditors for over 20 years.
EdMIS offers CPE for courses relating accounting, auditing, compliance monitoring and reporting for local governmental entities. The courses are all live and interactive and taught by the individuals who develop the course materials. The courses are available for CPE credit through NASBA. The instructional materials include reference material and useful links to other available resources.
CPE courses are taught in both the group live and the internet based group live formats. The internet based group live courses are usually smaller and provide ample opportunity for discussion and questions.
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