Agenda Item
2. Update on the Financial Audit
Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Mr. Diijon DaCosta Sr., Board Chair
Mrs. Deirdre P. Pierce, Vice Chair
Mrs. Anna Hill
Mrs. Whitney McGinniss
Ms. Allyson Gevertz
Mrs. Vickie B. Turner
Dr. Devon Q. Horton, Superintendent Dr. Joyce Morley
October 10, 2024
Attn: Audit Committee
Re: (1) Mauldin & Jenkins FY2023 Financial Statement Audit & (2) FY2024 Audit Readiness
(1) Mauldin & Jenkins FY2023 Financial Statement Audit
Audit Area Requested Outstanding Notes
Financial Audit 109 7 4 follow up items
3 (AP listings & Fund Balance)
Single Audit - ESSER 12 0
Single Audit - ECF 8 4
Single Audit – T1 24 1
Single Audit - CNC 14 2 (SFN) Have been receiving documentation from
SFN throughout the week for 2 remaining
samples. Deadline COB 10/10 for all remaining
documentation to be submitted.
Census – TRS N/A N/A Completed as part of the financial audit.
Census – ERS 6 0 Report released
Census - OPEB 7 2 (HR) Employee sample and documentation
request.
Potential Audit Issues – No change from September
1. Financial Statement Timeliness
2. Delinquent Property Taxes – not recorded to ledger
3. Equity Allocation and Restatement of Prior Year Fund Balance
Timeline – 8% remaining
1. Financial Audit – depending on how quickly we can provide outstanding items
2. Single Audit - depending on how quickly we can provide outstanding items
Robert R. Freeman Administrative Complex
1701 Mountain Industrial Blvd. | Stone Mountain, GA 30083
678.676.1200 | www.dekalbschoolsga.org
(2) FY2024 Audit Readiness
Not started / started / rough draft completed / finalized
a. Georgia Department of Audits & Accounts (DOAA) & Georgia Department of Audits and
Accounts (GaDOE) Required Submissions:
i. FY24 CS-1 (Salary & Travel Detail) – submitted to DOAA prior to 8/15/2024
ii. FY24 DE-046B (Final Budget) – submitted to GaDOE before 8/30/2024
iii. FY24 DE-046A (Actual) submitted to GaDOE prior to 9/30/2024
iv. FY24 TIGA (Transparency in Government) submitted to DOAA before 10/1/2024
v. FY24 P-Card detail submitted to DOAA prior to 10/1/2024
vi. FY25 DE-046B (Initial Budget) – Due to GaDOE before 10/31/2024
b. FY24 year-end close (YEC) and general ledger lock successfully completed within Munis
10/3/2024.
c. FY24 DeKalb County Schools Financial Statements – prepared internally
i. Management Discussion and Analysis
ii. Exhibits
1. Full Accrual
a. Exhibit A – Statement of Net Position
b. Exhibit B – Statement of Activities
2. Modified Accrual
a. Exhibit C – Balance Sheet
b. Exhibit E – Statement of Revenues, Expenditures, and Changes in
Fund Balances
3. Reconciliations
a. Exhibit D – Reconciliation of “A” to “C”
b. Exhibit F – Reconciliation of “B” to “E”
iii. Notes to the Financial Statements
iv. Schedules
1. TRS - Schedule of Proportionate Share of the Net Pension Liability
2. TRS – Schedule of Contributions
3. ERS - Schedule of Proportionate Share of the Net Pension Liability
4. ERS – Schedule of Contributions
5. PSERS - Schedule of Proportionate Share of the Net Pension Liability
6. OPEB - Schedule of Proportionate Share of the Net Pension Liability
7. OPEB – Schedule of Contributions
8. Notes to the Required Supplementary Information
9. General Fund Budget and Actual
10. Schedule of Expenditures of Federal Awards (SEFA)
11. Schedule of State Revenue
12. Schedule of Approved Local Option Sales Tax Projects
Robert R. Freeman Administrative Complex
1701 Mountain Industrial Blvd. | Stone Mountain, GA 30083
678.676.1200 | www.dekalbschoolsga.org
d. FY24 Audit – recommendation is to use DOAA based on relationship with firm and audit
team assigned (past experiences / level of professionalism / partnership etc…), capacity of
DCSD staff to prepare financial statements, expediency of audit partner and the cost of
audit.
i. Financial Audit –
1. Cost - DOAA at no charge. Engagement letter being sent this week.
2. Expediency - Agreed to begin interim procedures and start on the financial
audit in late November / Early December. Goal to have audit completed
and report / opinion issued by March 31st.
ii. Single Audit –
1. Cost – DOAA using amended billing procedure based on hours. No longer
based on the dollar amount of federal awards. This will significantly reduce
our bill and charged completely to federal programs that are audited.
2. Expediency - Upon completion of Note 10. Schedule of Expenditure of
Federal Awards, DOAA will begin the engagement immediately.
iii. TRS/ERS/OPEB Census Testing - TBD
Robert R. Freeman Administrative Complex
1701 Mountain Industrial Blvd. | Stone Mountain, GA 30083
678.676.1200 | www.dekalbschoolsga.org