The audit law (Louisiana Revised Statute (R.S.) 24:514 I.) requires that schedules of performance and statistical data accompany the annual financial statements of local public school boards. This requirement also applies to charter schools that do not report their performance and statistical data with the audit report of a local school board.
These schedules include such information as:
- General fund instructional and support expenditures and certain local revenue sources
- Class size characteristics
- Education levels and experience of public school staff
- Average salaries of public school staff
R.S. 24:514 I. also requires that this data be the subject of assurances provided as a part of the financial statement audit. This assurance takes the form of an agreed-upon procedures report. The agreed-upon procedures engagement is performed by the CPA firm that is also performing the school board’s regular audit report.
The performance measures schedules and the agreed-upon procedures report are included in the audit report of every local school board, and every charter school that does not report its performance measures with a local school board.
Exceptions noted in any of the procedures performed are included in the agreed-upon procedures report, along with management’s response and plan of corrective action.
Providing the tools to assist local school boards, charter schools and their auditors in fulfilling this provision of the law is a joint effort of the Louisiana Department of Education (LDOE) and the Louisiana Legislative Auditor (LLA). The information regarding these schedules that is available on the LLA website includes:
- Current information from the LDOE about the most recent performance measures schedules, including where the information for the schedules may be obtained
- Is the agreed-upon procedures engagement on school board performance measures approved separately from the school board or charter school audit?