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Agenda Item
T.-2 25-3040 Presentation to the Board of Education of its Audit Committee Semi-Annual Report - Audit Committee Activities for Fiscal Year 2024-2025 including its review of the District's Financial Statements (Audit Report) for Fiscal Year Ending June 30, 2025, by Edie Bailly, LLP, Independent Auditors.
Many thanks to the Audit Committee for your ongoing service and your continuing pressure on OUSD to resolve its audit findings. I believe that your adoption of a year by year Audit Finding Tracker, with an explicit report from District staff on the who, what and when of progress in resolving each finding, has helped with the huge improvement in OUSD's audit performance. I also know that finding new audit committee members and making quorum at every meeting has been a challenge for the committee. Would you consider officially reducing your meeting schedule to somewhere between 6 and 8 meetings per year? I note that districts that have a similar number of audit findings to the current number only have their Audit Committee meet a few times per year. You are best positioned to decide on the best schedule to address your core functions, with the option of adding special meetings should information not be forthcoming to you in a timely way. Again, thank you for your work!
Many thanks to the Audit Committee for your ongoing service and your continuing pressure on OUSD to resolve its audit findings. I believe that your adoption of a year by year Audit Finding Tracker, with an explicit report from District staff on the who, what and when of progress in resolving each finding, has helped with the huge improvement in OUSD's audit performance. I also know that finding new audit committee members and making quorum at every meeting has been a challenge for the committee. Would you consider officially reducing your meeting schedule to somewhere between 6 and 8 meetings per year? I note that districts that have a similar number of audit findings to the current number only have their Audit Committee meet a few times per year. You are best positioned to decide on the best schedule to address your core functions, with the option of adding special meetings should information not be forthcoming to you in a timely way. Again, thank you for your work!