IMPACT OF LATE FILED INDEPENDENT AUDITS ON STATE AID PAYMENTS
- Pursuant to Education Law Section 2116-a, the deadline for submission
of the independent audit to SED is October 16th for school districts other
than Rochester, Syracuse, Buffalo, Yonkers and New York City. For the large
city school districts, the deadline is January 1st. As these deadlines
are statutory, SED is not able to effect an extension.
- Due to a statutory 30 day “grace period,” the November
State Aid payment is not withheld if the audit is not received by October
16th. No State Aid is withheld due to a late-filed independent audit until
after November 15th, (assuming all other required State Aid claim forms
have been received).
- The December State Aid payment is the first payment that potentially will be withheld if the independent audit is not received by SED by November
15th.
- Barring unforeseen circumstances beyond SED control, the December
15th State Aid payment is processed approximately during the fourth week
in November. Therefore, independent audits received in the Office of Audit
Services during the fourth week in November are likely, though not
guaranteed,
to be processed in time to avoid having the December payment withheld (assuming
all other required State Aid claim forms have been received).
- In general, payment files are processed three weeks prior to the
date districts are to receive a payment. Districts submitting their independent
audit report late or very late should be aware of this lag in determining
whether their December, January, February, etc. State Aid payments might
be withheld.
- Districts should submit their completed independent audit to the
Office of Audit Services as soon as it is complete, even if the Board of
Education has not officially accepted the audit. Attach a note to the audit
when submitted indicating that documentation of Board acceptance is forthcoming,
and send the board resolution to the Office of Audit Services as soon
as possible after Board acceptance.
Note: STAR and Sound Basic Education payments will not be withheld
due to a late-filed independent audit.
The Independent Audit Report should be sent to the following address:
New York State Education Department
Office of Audit Services
89 Washington Avenue, Room 524 EB
Albany, NY 12234
All questions regarding the content and submission of the
independent audit should be
directed
to John Cushin in the Office of Audit
Services at the State Education Department:
Phone: 518-473-4516
e-mail: oas@mail.nysed.gov
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