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For School Districts and Auditors of School Districts!
Powerful Analytical Tools to Audit, Manage and Prepare Reports for Texas School Districts!

RELEASE 21 for 2017 is now available!  ORDER TODAY!! 

AUDIT-L.E.A. is Windows® based software which assists you in preparing financial statements. It does much more! 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. Almost all reports can either be printed or exported to an Excel® or a PDF file. MOST IMPORTANTLY, there are new changes from T.E.A. on the audit data feed requirements, new account codes and new audit requirements. Let AUDIT-L.E.A. keep you UP TO DATE!!

AUDIT-L.E.A. can also 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-L.E.A. not only provides a system for preparing the annual financial report. It also includes many features aimed at assisting both the school district and the auditors in testing, analyzing and adjusting the trial balance data and the budget data. The user can query, filter, prepare lead sheets, run compliance tests, export subsets of data to Excel®, compare current year with prior year, budget with actual, etc. It is a powerful analytical tool! The Individual Fund Schedule Routine in the Report Generator allows you to prepare budget comparisons and/or prior year current year comparisons on any single fund.

New Features With Release 21 for 2017 include:

  • A new data entry screen for entering and saving the required information for performing the necessary adjustments for GASB 68.  Enter this data and click a menu option to:
    • Print or create a PDF file to make a record of all entries.
    • Click on a menu option to calculate all adjusting entries required for the GASB 68 adjustments.  Print or create a PDF file of these entries.  The report will include all adjustments PLUS the reconciliation tables showing that the resulting change in ending net pension liability is the same as that amount provided by TRS; that the impact on Exhibit A-1 is equal to the impact on B-1; showing the details on the ending amount for Deferred Resource Outflow and Inflows; and the details on the amount which must be reported for item SF13 on Schedule L.
    • Click another menu option to automatically add the GASB 68 entries to your GASB Adjustments file for the fund to government wide conversion.  These entries can be edited and or reposted from the GASB 68 entry screen if necessary.
  • We have added a new column in the Fund to Government Wide Worksheet for GASB 68 entries. This will simplify the collection of information necessary for disclosing these changes in the reconciliation statements for Exhibit C-2 and C-4.
  • We have also added a routine in the GASB Adjustments menu in the Report Generator allowing you to remove deleted entries from the file and renumber the remaining adjusting entries.  If you import the entries from the prior year, you will able to delete any of these entries which you will not have this year, click on this option, and renumber all the imported adjusting entries.  (Note:  You MUST do this for the GASB 68 adjusting entries you import from the prior year.  When these are added as described above, they will be added so that the number of the first of these entries is the next number after you last entry in the file.)
  • The Amortization Schedule for the Deferred Resource Outflows and Inflows Related to the TRS pension has been completely revised.  We now give the amortization stream for EACH of the four items which are the source of these Resource Flows.  We have added a column to show the amounts remaining to be amortized for each of these items in the years following the current reporting period.  We have also netted the Outflows and Inflows related to the "Difference between the Projected and Actual Earnings on Investments" in both the amount to be amortized for each reporting period but also in the amount remaining in future periods.  This will enable you to easily enter the correct information in the table in the Notes to the Financial statements regarding Deferred Resource Outflows and Inflows for the TRS pension.  Also, this information will be imported each year into AUDIT-L.E.A. so that only the new information will have to be added to maintain this schedule.
  • The information regarding on-behalf payments recorded by the district in the fund financial statements and those provided by TRS for the government wide statements are saved into the data entry screen for allocating the On-Behalf amounts by function.   When this screen is opened and the percentages imported from the trial balance, the results are imported into the Grant Revenue Worksheet for the appropriate adjustment in program revenue on Exhibit B-1.
  • We have also added the option to either print OR create a PDF file for the worksheets in the Report Generator.

AUDIT-L.E.A. is a useful tool for school district managers to use throughout the year! Of course it continues to be the BEST software on the market for performing audit adjustments and the consolidation and conversion adjustments necessary for preparation of the annual report. All of the familiar check routines are there for you! 

AUDIT-L.E.A. has three Component Parts

The TRIAL BALANCE PROGRAM is the workhorse for importing, analyzing, testing and adjusting accounting data from the district’s accounting system. The REPORT GENERATOR PROGRAM is the report preparation program and includes the supplemental accounting system required for preparing the government wide statements. This component also prepares both the Audit Data Feed and the PDF file of the Annual Report which must be submitted to T.E.A.

The AUDIT PROGRAM GENERATOR generates a planning and pre-fieldwork program, an audit program, an internal control questionnaire based on the AICPA's Audit and Accounting Guide Audits of State and Local Governments, a checklist for school districts to demonstrate that they have sufficient internal controls and competency for reviewing the statement preparation, standard documents such as engagement letters, and a comprehensive compliance program for federally funded and TEA mandated programs which includes the very latest updates of requirements from OMB Circular 133 and from T.E.A. The compliance guidelines can be especially helpful to federal program directors.

AUDIT-L.E.A. includes the following features:

  • A unique Conversion and Consolidation System converting modified accrual of the fund statements to accrual data necessary for the government wide statements. This routine creates an excellent audit trail for the preparation of the government wide financial statements.
  • An easy routine for importing data from the District’s accounting system into the software including importing the next FY budget data into the new Budget Module.
  • An easy to use adjustment routine for entering year-end adjusting entries necessary to prepare financial reports.
  • Worksheets for developing information and documenting the procedures necessary for preparation of the annual report—notes and exhibits.
  • Worksheet for calculating and allocating by function the annual depreciation for capital items.
  • Check routines in the Trial Balance module to ensure compliance with PEIMS reporting requirements.
  • Test routines in the Trial Balance module and in the Proposed Budget Module including the PEIMS edit checks.
  • Check routines in the Report Generator module to ensure consistency between exhibits in the annual report.
  • Menu option to create the T.E.A. Audit Data Feed file and the PDF file as required by T.E.A.
  • Easy export routine to export subsets of data into Excel©, PDF, Word, and many other formats.
  • A word-processing module in the Report Generator allowing for preparing Auditor’s Reports and providing a sample document for Notes and MD&A.
  • A word-processing routine for creating and editing the audit programs.
  • A drill down routine in the Report Generator which quickly collects all accounts in the Trial Balance which are summed to a particular cell in the data files used to prepare the report.
  • Query routines and Status Reports by fund or fund type allow for quick assessment of particular items.
  • Prior year/current year comparisons and budget to actual comparisons.