Module 8 – Completing the Project

The MSBA performs final audit to determine final total grant amounts and make final payment.

Process for Accepting the Draft Audit Report

A District has 10 business days from the date it receives the MSBA draft audit report by e-mail to accept or not accept the draft audit report by filling out the Acceptance/Non-Acceptance Form.

If a District accepts the draft audit report, the District must submit the Acceptance Form within 10 business days. The draft audit report will then be submitted to the MSBA Board of Directors for its consideration and approval. If the District accepts the report, the audit results will be considered final upon the vote of the Board, and the revised payment schedule reflecting the audit results will be implemented. Failure to submit an Acceptance Form within the 10-day business day deadline may result in payment delays.

If the District chooses NOT to accept the draft audit report, the District must submit the Non-Acceptance Form within 10 business days of receiving the draft audit report and state its intention not to accept the draft audit report. In addition, a District must submit in writing, to Joanna Aalto, Controller/Director of Audits, new documentation and a summary of the disputed issues/costs within 20 business days from the date the District receives the draft audit report. The MSBA will reconsider audit results only if these deadlines are met. Each District that files a timely Non-Acceptance Form and supporting documentation will have the opportunity to meet with certain staff members of the MSBA and, if necessary, a sub-committee of the Board of Directors of the MSBA before the audit results and the disputed costs are submitted to the MSBA Board for its consideration. Once the Board has voted on the audit results, the results will be considered final, and the MSBA will implement a revised payment schedule based on the audit results.

If the MSBA does not receive the required Non-Acceptance Form and related materials within the above-specified time frame, the draft audit report will be submitted to the MSBA Board for its consideration and approval. The audit results will be considered final upon the vote of the MSBA Board, and the revised payment schedule reflecting the audit results will be implemented.

Closeout Audit Forms*

*Additional forms may be sent to the District for completion of the Closeout Audit Process.

As of the March 28, 2012 Board meeting the MSBA has completed final audits and received board approval for: 

  • 776 Former Program projects
  • 55 New Program projects