Is Your Independent Audit Submitted to SED?
As of today there were 82 districts that SED reported that they had not received a copy of the external audit for the year ended June 30, 2019. While the Big 5 audits are not due until January 1, 2020, the remaining audits were due by October 15, 2019. As late audits do cause your district’s State Aid to be withheld starting with the December aid payments, we encourage you to review the list on SED’s website (http://www.oms.nysed.gov/stateaid/NO_AUDIT.HTM) to identify if your district is listed as having an outstanding audit.
Additionally, if you normally receive a December aid payment and do not receive one this year, please note that your audit needed to have been submitted before November 15th for the December aid payment to be processed. Any payments delayed will be paid with future aid payments, once the audits, corrective action plans and BOE acceptance resolutions have been submitted to SED.
For a summary of the full impact of a late external audit, please review: https://stateaid.nysed.gov/payment/htm_docs/ia_memo_1819.htm.
If you have any question about how to upload your audit through the Business Portal, please give us a call.