Board Agenda - September 05, 2006

IX. Establish Board Audit Committee

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: 10 minutes

Description:

The internal audit function in Plano ISD has been conducted through contracted services to an independent, third-party CPA. The administration has been actively involved in attempting to employ an internal auditor over this past school year. Recent legislation (HB 1) mandates that the internal auditor is to be (1) selected by the Board of Trustees; and (2) reports directly to the Board.

The administration recommends that the President of the Plano ISD Board of Trustees appoint a three-member audit committee. The board audit committee would facilitate the functions surrounding all audit areas that include but are not limited to:
- Make recommendations to the entire Board of Trustees regarding the appointment or removal of the internal auditor;
- Meet with the external auditor in regard to the district's annual fiscal year audit;
- Recommend internal audit policy.

Recommendation:

Previously the district's audit committee was composed of the board president, superintendent, deputy superintendent and associate superintendent for business services. The administration recommends that this committee be replaced by a three-member board audit committee which includes the board president.

Business Impact:

None.

Summary:

Appendix:

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