Cut Bank School District




Financial Reporting and Audits


The Board directs that financial reports of all District funds shall be prepared in compliance with statutory provisions and generally accepted accounting and financial reporting standards. In addition to the reports required for local, state, and federal agencies, financial reports will be prepared monthly and annually and presented to the Board. The financial reports shall reflect the financial activity and status of the District funds.


Appropriate interim financial statements and reports of financial position, operating results and other pertinent information will be prepared to facilitate management control of financial operations.


The Board directs that District audits shall be conducted in accordance with Montana law. Each audit shall be a comprehensive audit of the affairs of the District and the District funds. The audits shall comply with all statutory provisions and generally accepted governmental auditing standards. Each audit shall be made every year and cover the immediately preceding fiscal year.




Legal Reference: 2-7-501, et seq., MCA Definitions

20-9-212, MCA Duties of county treasurer

20-9-213, MCA Duties of trustees


Policy History:

Adopted on:

Revised on: