PAGE

Introduction

Significant Changes

i

Other Changes/Updates for 2004-05

iv

Overview

vi

Outline for Comprehensive Annual Financial Report (CAFR)

ix

Section I: General Compliance

Chapter 1 - Appointment, Scope and Declaration

I-1.1

Chapter 2 - Meetings and Minutes

I-2.1

Chapter 3 - ASSA & DRTRS

I-3.1

Chapter 4 - Budget & Transfers

I-4.1

Chapter 5 - Bids & Contracts/Purchasing

I-5.1

Chapter 6 - Chart of Accounts/Expenditure Classification

I-6.1

Chapter 7 - Reserved

I-7.1

Chapter 8 - Year End Procedures - Closing Out for GAAP

I-8.1

Section II: Specific Compliance 

II-i

Governmental Funds  

Fund 10 (General Fund):

Board Secretary and Treasurer Reports

II-10.1

Cash Reconciliation

II-10.1

Petty Cash Funds

II-10.1

SAS #70 Reports

II-10.1

Third Party Disbursements

II-10.2

Investments

II-10.2

Revenues and Receipts

II-10.3

Extraordinary Aid

II-10.3

District Taxes

II-10.4

Tuition (N.J.A.C. 6A:23-3)

II-10.4

Reporting On-Behalf Payments

II-10.6

Refunds

II-10.6

Telecommunications Act of 1996 (E-rate)

II-10.6

Cancellations

II-10.6

Health Insurance Policies

II-10.7

Sale and Lease-back Contracts

II-10.8

Required Maintenance

II-10.8

Schedule of Required Maintenance Expenditures

II-10.10

Restricted Appropriations/Balances

II-10.11

Capital Reserve Account - General Fund

II-10.12

Excess Surplus

II-10.15

Fund Balance Classifications

II-10.18

Fund 20 (Special Revenue Fund):

TPAF Reimbursement

II-20.1

Demonstrably Effective Program Aid (DEPA)

II-20.2

Preparing the DEPA Restricted Aid Schedule

II-20.4

Early Childhood Program Aid

II-20.10

Preparing the ECPA Restricted Aid Schedule

II-20.10

Distance Learning Network Aid and Instructional Supplement Aid

II-20.16

Preparing the Distance Learning Network Aid Schedule

II-20.16

Preparing the Instructional Supplement Aid Schedule

II-20.19

Capital Projects, Debt Service, & Permanent Funds

Fund 30 (Capital Projects Fund):

Bond and Note Authorizations

II-30.1

General Borrowing Authority

II-30.1

Bond Sales and Capital Projects Fund Activities

II-30.3

Capital Project Approval under EFCFA

II-30.3

Unexpended Bond Proceeds

II-30.4

Unexpended Project Funds - Other Funding Sources

II-30.4

School Construction Corporation (SCC) Grants under EFCFA

II-30.5

Overexpenditures

II-30.5

Rebatable Arbitrage

II-30.6

Secondary Market Disclosure

II-30.6

Lease Purchase Agreements

II-30.7

Fund 40 (Debt Service Fund):

District Taxes

II-40.1

Debt Service Aid

II-40.1

Rebatable Arbitrage

II-40.1

Budget Transfers

II-40.1

Fund 50 (Permanent Fund):

GASB 34 Model for Permanent Funds

II-50.1

Proprietary & Fiduciary Funds/Capital Assets & Long-Term Debt

Fund 60 (Proprietary Fund):

Proprietary Funds

II-60.1

Food Service - Enterprise Fund

II-60.1

SAS #70 Reports

II-60.3

Sample Food Service Invoices and Allocations

II-60.4

Child Nutrition Program Requirements

II-60.9

National School Lunch Rate Schedule

II-60.12

Internal Service, Trust, and Agency Funds/Capital Assets & Long-Term Debt

Fund 70 (Internal Service Funds):

II-70.1

Fund 80 (Trust Funds):

Trust Fund Reporting

II-80.1

Unemployment Trust Fund

II-80.1

Section 457 Deferred Compensation Plan

II-80.2

Fund 90 (Agency Fund):

Agency Funds

II-90.2

Student Activity

II-90.3

Organizations Under the Auspices of the School

II-90.3

Fund Raising in Schools by Outside Organizations

II-90.3

Funds of Teacher Organizations and Parent/Teacher Organizations

II-90.4

Funds Collected by Teachers from Pupils for Immediate Purchase of Items

II-90.4

Capital Assets

Overview

II-CA.1

Reporting on Capital Assets

II-CA.1

Capital Leases

II-CA.2

Construction In Progress

II-CA.2

Reporting Capital Assets Acquired Through Non-cash Grants

II-CA.2

Sample Format - Capital Asset Subsidiary Ledger

II-CA.2

Depreciation Expense

II-CA.3

Long-Term Liabilities

Overview

II-LT.1

Compensated Absences

II-LT.2

Early Retirement Incentive Program

II-LT.3

Arbitrage Requirements

II-LT.3

SINGLE AUDIT:

Federal and State Audit Requirements

II-SA.1

Schedule of Expenditures of Federal Awards and State Financial Assistance

II-SA.2

Preparing the Schedule of Expenditures of Federal Awards and State

Financial Assistance

II-SA.4

Federal (CFDA) Numbers

II-SA.9

State Grant Account Numbers

II-SA.11

Sample Schedule A (Federal Award)

II-SA.13

Sample Schedule B (State Financial Assistance)

II-SA.14

Sample Schedules of Findings and Questioned Costs

II-SA.15

Sample Summary Schedule of Prior Audit Findings

II-SA.20

Federal OMB Circular No A-133 - Refer to Circular on web site

http://www.omb.gov

State Circular Letter No. 04-04-OMB - Refer to Circular which can be accessed at the NJOMB web site http://www.state.nj.us/treasury/omb/

Section III: Reporting 

Chapters 1 - 3

Chapter 1 - Audit Criterion and Submission

III-1.1

Chapter 2 - Sample Opinion Reports

Directives for Auditor's Reports

III-2.1

Component Units

III-2.1

Independent Auditor's Report

III-2.2

Report on Compliance and on Internal Control over Financial Reporting

Based on an Audit of Financial Statements Performed in Accordance

with Government Auditing Standards

III-2.5

Report on Compliance with Requirements Applicable to Each Major Program

and on Internal Control over Compliance in Accordance with OMB

Circular A-133 and New Jersey OMB Circular 04-04

III-2.7

Chapter 3 - Note Disclosures

Sample Notes for Schedules of Expenditures of Awards and Financial Assistance

III-3.2

Financial Statement Disclosures - Overview and Sample Notes

III-3.4

GASB 34 Model Illustration of Reconciliation - Notes to Required Supplementary

Information

III-3.6

Chapters 4 & 5

Chapter 4 - Auditor's Managerment Report (AMR)

III-4.1

Chapter 5 - Audit Summary Worksheet Diskette

III-5.1

Chapters 6 & 7

Chapter 6 - Audit Checklist & Questionnaire

III-6.1

Chapter 7 - Synopsis and Corrective Action Plan

III-7.1

Chapter 8 - Quality Assessment Review Checklist

III-8.1