Alaska Administrative Code
Title 4 - Education and Early Development
Chapter 06 - Government of Schools
Article 1 - General Administration
4 AAC 06.121 - Annual financial reporting requirements
Current through November 28, 2024
Effective August 5, 1990, a school district's annual audit report under AS 14.14.050 must meet the following requirements:
(1) the financial reports must be in conformity with generally accepted accounting principles defined in the Codification of Governmental Accounting and Financial Reporting Standards adopted in 4 AAC 06.120(a) (1);
(2) all governmental money shall be reported on the modified accrual basis of accounting;
(3) the effective dates of state and federal laws stipulating financial reporting requirements for school districts govern the content of an audit acceptable under AS 14.14.050;
(4) financial audits shall report data for all required codes contained in the Uniform Chart of Accounts for Public School Districts, adopted by reference in 4 AAC 06.120(a) (2); revenue and expenditure codes for which there were no transactions during the audit period need not be reported;
(5) the following additional special reports must be submitted, on a form prescribed by the department, with the annual audit report:
Authority:AS 14.07.020
AS 14.07.060
AS 14.14.050
