FY 2016 annual audit requirements

The Maine Department of Education would like to remind the field that statements of assurance and MEDMS financial reconciliations, as required by Title 20-A MRSA 6051 §4, are due by November 2.  Any adjustments identified by these reconciliations should be submitted to MEDMS Financial System by November 30.

Annual audit reports are due within six months after the end of the audit period, e.g. reports for the fiscal year ending June 30 are due on or before December 30.

Per statute, it is the school board’s responsibility to submit the annual audit document unless it is included in the engagement letter that the audit firm will submit the audit to the Maine Department of Education on behalf of the school board. In addition, the auditor is required to review the audit with the school board.

It is the superintendent’s responsibility to request audit deadline extensions and/or exceptions. The forms are available here.

Municipal school units are required to submit either a combined annual audit or a school department audit and a municipal audit to Maine DOE. The municipal annual report (also known as the town report) cannot be accepted in lieu of the complete municipal annual audit.

Per statute, Maine DOE must receive a Schedule of Expenditure of Federal Awards (SEFA), which includes federal award expenditures for all reporting entities, regardless if an A-133 audit is not required to be conducted. The SEFA provides information needed by the Maine DOE to conduct sub-recipient monitoring as required by US DOE and is due at the time of the annual audit. In municipal school units where a combined audit is not conducted, this means that Maine DOE receives a SEFA for the school department and the city/town.

If a management letter is prepared by the auditor, a copy should be submitted to Maine DOE with the annual audit as this letter provides the Department with information needed to conduct sub-recipient monitoring as required by US DOE.

Please submit all annual audit documents, reports, information requests, questions and other audit correspondence to doe.audit@maine.gov.

For more information, review statutory requirements here.