Lawrence USD 497's Business Office provides support to all students and staff in the Lawrence Public School district. Budget and Finance includes general ledger accounting, purchasing, accounts payable and vendor management, accounts receivable, student fees, auditing and internal controls, student activity fund accounting, grant accounting, cash management, debt issuance, investments, budget preparation, financial reporting, financial forecasting, and analysis of the financial operations of the school district.
Kansas School District Audit Requirements
School districts in Kansas are required to comply with the Kansas Municipal Audit and Accounting Guide (KMAG), a regulatory basis of accounting. Annually each school district must have an independent audit that considers the following:
Auditing Standards Generally Accepted in the USA
Government Auditing Standards (Yellow Book)
Single Audit Act of 1996 and OMB Circular A-133, and
Generally Accepted Accounting Principles as might be applicable to the regulatory basis of accounting
Audit Reports, district fiscal year end June 30