(b) provide reasonable assurance regarding the achievement of the following objectives over state and federal awards:
(i) proper recording and accounting for transactions, in order to:
(A) permit the preparation of reliable financial statements and state and federal reports;
(B) maintain accountability over assets; and
(C) demonstrate compliance with state and federal statutes, regulations, and the terms and conditions of state and federal awards; and
(ii) execution of transactions in compliance with:
(A) all state and federal statutes and regulations; and
(B) the terms and conditions of state or federal awards; and
(c) safeguard funds, property, and other against loss from unauthorized use or disposition.
(11) "Modified accrual basis of accounting" means a basis of accounting, commonly used by government agencies, that recognizes revenues when they become available and measurable and recognizes expenditures when liabilities are incurred.
(12) "Non-operating LEA" means an LEA that has not received minimum school program funds or federal funds and is not providing educational services during a fiscal year, such as an LEA in a start-up period.
(13) "N-size" means the minimum size necessary to disclose or display data to ensure maximum student group visibility while protecting student privacy.
(14) "Operating LEA" means an LEA that has received state minimum school program funds or federal funds and is providing educational services during a fiscal year.
(15)(a) "Provided, sponsored, or supported by a school" has the same meaning as defined in Section R277-407-2.
(b) "Provided, sponsored, or supported by a school" does not apply to non-curricular clubs specifically authorized and meeting all criteria of Sections 53G-7-704 through 53G-7-707.
(16) "Public funds" has the same meaning as that terms is defined in Subsection 51-7-3(26).
(17) "Title IX" refers to that portion of the United States Education Amendments of 1972 codified as 20 U.S.C. 1681 through 20 U.S.C. 1688.
(18) "Utah Public Officers' and Employees' Ethics Act," means Title 67, Chapter 16, which provides standards of conduct for officers and employees of the state of Utah and its political subdivisions in areas where there are actual or potential conflicts of interest between public duties and private interests.
R277-113-3. Superintendent Responsibilities.
(1) The Superintendent shall provide training, informational materials, and model policies for use by LEAs in developing LEA and public school-specific financial policies.
(2) The Superintendent shall provide online training and resources for LEAs regarding the use and management of public funds and ethical practices for licensed Utah educators who manage, control, participate in fundraising, or expend public funds.
(3) The Superintendent shall provide training and informational materials for use by LEA governing boards in establishing their audit committees and internal audit programs in compliance with Section 53G-7-402.
(4) The Superintendent shall provide and establish a cycle for state review of LEA fiscal policies and standards.
(5) The Superintendent shall work with and provide information upon request to the Utah State Auditor's Office, the Legislative Fiscal Auditors, and other state agencies with the right to information from the Board.
R277-113-4. LEA Audit Responsibilities.
(1) The presiding officer of an LEA governing board shall ensure that the members of the governing board and audit committee are provided with training on the requirements of Title 53G, Chapter 7, Part 4, Internal Audits, and this Section R277-113-4 as part of the member on-boarding process.
(2) The training described in Subsection (1) shall:
(a) comply with Title 63G, Chapter 22, State Training and Certification Requirements; and
(b) use the online training and informational materials provided by the Superintendent in accordance with Subsection R277-113-3(3).
(3) An LEA governing board shall:
(a) designate board members to serve on an audit committee, consistent with Subsection 53G-7-401(1); and
(b) maintain the following information on the LEA's website:
(i) names of the governing board members who serve on the audit committee; and
(ii) if required by Subsection 53G-7-402(2);
(A) the name and contact information of the internal audit director; and
(B) a copy of the LEA's annual audit plan.
(4) An LEA audit committee shall:
(a) ensure the LEA obtains all audits, agreed-upon procedures, engagements, and financial reports required by Section 51-2a-201 and Subsection 53G-5-404(4);
(b) provide an independent forum for internal auditors, internal audit contractors, and other regulatory bodies to report findings of fraud, waste, abuse, non-compliance, or control weaknesses, particularly if LEA administration is involved;
(c) ensure that corrective action on findings, concerns, issues and exceptions reported by independent external auditors, internal auditors, or other regulatory bodies are resolved in a timely manner by LEA administration;
(d) present, as appropriate, information and reports from the audit committee's meetings to the LEA board; and