Financial Reporting Survival Guide for Soil and Water Conservation Districts
The Fiscal Year 2015-2016 Annual Financial Report (covers October 1, 2015 – September 30, 2016) – Due June 30, 2017 at the Latest
- The Annual Financial Report collects revenue, expenditure, and debt data from all counties, municipalities and special districts.
- All counties, municipalities, and special districts – even those without revenues and expenditures – must file this report electronically on the Department of Financial Services website by June 30, 2017.
- Each independent S&WCD must file its own separate report.
- A dependent S&WCD that is a component unit of a county may be included in the county’s report. A dependent S&WCD should check with the county to find out if the county is including the S&WCD in its report.
- To file this report, gather your financial data, login at https://apps.fldfs.com/LocalGov/ and follow the instructions.
- Direct all questions, including those about user names and passwords, to LocalGov@MyFloridaCFO.com or 850-413-5571.
The Fiscal Year 2015-2016 Annual Financial Audit Report (covers October 1, 2015 – September 30, 2016) – Due June 30, 2017 at the Latest
- The Annual Financial Audit Report:
- Covers the results of an annual financial audit;
- Examines financial statements in order to assess whether they are fairly presented in conformity with generally accepted accounting principles; and,
- Examines whether operations are properly conducted in accordance with legal and regulatory requirements.
- All special districts meeting the following financial threshold must provide for a financial audit:
- When revenues or combined expenditures and expenses exceed $100,000, or,
- When revenues or combined expenditures and expenses fall between $50,000 and $100,000 and the special district has not had a financial audit for the previous two fiscal years.
- The audit for a dependent S&WCD that is a component units of a county may be included in the audit of that county. A dependent S&WCD meeting the above financial threshold should check with the county to find out if the county included the S&WCD in its audit.
- Direct all questions about the audit to Derek Noonan, CPA, (850) 412-2864 or email@example.com
Procedures to Follow After September 30 Each Year When An Audit is Required
- Create an auditor selection committee (see Section 218.391, Florida Statutes – Auditor selection procedures).
- Define auditor selection procedures. For non-mandatory suggestions see Auditor Selection Guidelines.
- Select an auditor who is an independent certified public accountant licensed pursuant to Chapter 473, Florida Statutes.
- Arrange for a financial audit to occur so that it can be completed and filed by June 30 at the latest.
- Within 45 days after the certified public accountant delivers the completed report to the special district’s governing body, but no later than June 30, file the audit as follows: