Arizona Revised Statutes (A.R.S.) §15-903(A) requires the Superintendent of Public Instruction in conjunction with the Auditor General to prescribe the budget format to be used by all districts. A.R.S. §15-905 requires districts to prepare and submit budgets in electronic format containing the information and, in the form provided by the Arizona Department of Education (ADE). The Auditor General and ADE developed the budget format in Microsoft Excel, to incorporate the information districts are statutorily required to include in their annual budgets. This format will help districts comply with budget preparation and submission requirements.
Arizona Revised Statutes (A.R.S.) §15-904 requires school districts to prepare and submit an annual financial report (AFR) including school-level data, in electronic format, by October 15. The Auditor General in conjunction with the Arizona Department of Education (ADE) is required to prescribe the AFR format to be used by all school districts. The Auditor General and ADE developed the AFR format in Microsoft Excel, to incorporate the information districts are statutorily required to include in their AFR.
Below are the last five (5) fiscal year Annual Financial Reports (AFR):
This is an analysis of Arizona school district spending at both the State and individual district levels that addresses the requirement in Arizona Revised Statutes §41-1279.03 for the Auditor General to monitor Arizona school districts to determine the percentage of every dollar they spent in the classroom. We have been monitoring this since FY 2001.
A school district that has an adopted expenditure budget of $2 million or more for the Maintenance and Operation (M&O) Fund is required to contract for an annual financial statement audit. See USFR §VIII, Audit Requirements, for specific requirements. Districts that expend $750,000 or more in federal awards are subject to the annual single audit requirements, which would require a district to obtain an audit of its financial statements and federal programs.
