Rules on this topic differ by state. Check your state's law before you use this template.
Audit and financial review rules for districts are set by state law and your state's conservation agency. Use this checklist to get organized, and follow what your state requires.
Year-End Financial Review: [District name], Fiscal Year [Fiscal year]
Prepared by [District manager] with [Treasurer name], board treasurer. Check each item when it is done and note where the record is kept.
1. Close the books
- Every bank and investment account reconciled for each month of the year
- All deposits for the year recorded and matched to receipts
- All payments recorded, each with an invoice and a record of board authorization
- Outstanding checks and deposits in transit listed
- Petty cash counted and reconciled, if the district has it
- Year-end balances agree with the bank statements
2. Money from others
- List of every grant and agreement active during the year, with award amounts
- Spending under each grant tracked separately and matched to its budget
- Match and in-kind records for grants that require them
- Funder reports for the year filed, with copies kept
- Any money that must be returned or carried forward is identified
3. Payroll and people
- Payroll records and timesheets for the year complete
- Payroll tax filings and year-end wage forms filed
- Board member mileage or per diem paid under the board's policy, with records
4. Things the district owns
- Equipment and property list updated, with items bought, sold or retired this year
- Rental equipment income matched to rental records
- Inventory for sale (trees, seed, supplies) counted at year end
- Insurance policies current, with a list of what is covered
5. Board records
- The budget the board adopted for the year, and any changes the board made to it
- Signed minutes for every board meeting of the year
- Treasurer's reports presented to the board during the year
- Board members' conflict of interest statements, if the district collects them
- Bank signature cards match current board members and staff
6. Audit or review
- Type required for this year (audit, agreed-upon procedures, or other review, as your state requires): ____________
- Auditor or reviewer: [Auditor or reviewer]
- Date records go to the reviewer: ____________
- Report due date: ____________
After the report comes back, list each finding or recommendation, what the district will do about it, who is responsible and by when. Present the report and this response to the board.
Board sign-off
The board of [District name] reviewed this checklist and the year-end financial records for fiscal year [Fiscal year] at its meeting on [Board review date].
[Treasurer name], treasurer
Board chair
[District manager]
A starting draft, not legal advice. Have your attorney or agency review before use.