State law requires that each school district in Oklahoma undergo each year an audit of its financial operation.
As required by law, the annual audit must contain at least the following:
1) A statement of the scope of examination;
2) The auditor’s opinion as to whether the audit was made in accordance with generally accepted auditing standards as heretofore established;
3) The auditor’s opinion as to whether the financial statements included in the audit report present fairly the results of the operations during the period audited;
4) The auditor’s opinion as to whether the financial statements accompanying the audit report were prepared in accordance with generally accepted accounting principles applicable to schools and in accordance with the laws of the State of Oklahoma and the rules and regulations of the State Board of Education;
5) The reason or reasons an opinion is not rendered with respect to paragraphs 3 and 4 in the event the auditor is unable to express an opinion with respect thereto;
6) The auditor’s opinion as to whether the school’s budgetary and disbursement procedures conform to the requirements of the Oklahoma Statutes;
7) Financial statements presented in the form and manner approved by the State Board of Education so as to disclose the results of the operations of each fund of the public school.
The audit is conducted after the end of the fiscal year and must be submitted to the school board within 10 months after the close of the fiscal year. When the audit is completed, the auditor conducts a “final exit interview” at a board meeting. After receiving the audit, copies are forwarded to the county clerk and the State Board of Education.
Below are links to recent audits of Putnam City Schools:
Fiscal Year 2012-2013
Fiscal Year 2011-2012
Fiscal Year 2010-2011
Fiscal Year 2009-2010
Fiscal Year 2008-2009