Jordan Public Schools ungergoes a yearly audit through an independent auditor called Eide Bailly located in Mankato, Minnesota.
- Done after June 30th of every year
- Financial data is finalized and “uploaded” to the MDE
- Audited financial statements are also sent to the MDE and the State Auditor’s office
The job of the independent auditor:
- Go through financial data
- Conduct interviews with board members and administration to review for fraudulent activity
- Prepare financial statements
- Present the Audit Executive Summary at the December Board of Education meeting
Why is an audit important?
- It’s the law
- Creditors want it
- Keeps everyone honest
