DEPARTMENT: Pre-K 4 SA
DEPARTMENT HEAD: Sarah Baray, Ph.D.
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
FY 2020 Audit Engagement Overview
SUMMARY:
This item includes a briefing and Board discussion of the Pre-K 4 SA financial audit engagement that will be managed by RSM US LLP for the 2020 fiscal year beginning on July 1, 2019 to June 30, 2020.
BACKGROUND INFORMATION:
As mandated by the bylaws of the San Antonio Early Childhood Education Municipal Development Corporation, the Board is required to submit audited financial statements to City Council for the preceding fiscal year. This briefing and discussion will allow the Corporation’s external auditor, RSM US LLP, the opportunity to present required communication to the Board and a brief overview of the audit process.
ISSUE:
The briefing to the Board will include the following:
• Audit Scope and Deliverables
• Timeline
• Required Communication
o Communication between RSM US LLP and the Board of Directors
o Overview of Independence
o Engagement Objectives
o Audit Approach
o Materiality
ALTERNATIVES:
This item is for informational purposes only.
FISCAL IMPACT:
This item is for informational purposes only.
RECOMMENDATION:
This item is for informational purposes only.