Annual Audit

Audit Requirements and Procedures

Independent Auditor

  1. Be associated with a certified public accountancy (CPA) firm that has a current valid license issued by the Texas State Board of Public Accountancy;
  2. Be a certified public accountant with a current valid license issued by the Texas State Board of Public Accountancy, as required under Education Code 44.008; and
  3. Adhere to the generally accepted auditing standards (GAAS), adopted by the American Institute of CPAs (AICPA), as amended, and the generally accepted government auditing standards (GAGAS), adopted by the U.S. Government Accountability Office, as amended.
  1. Be a member of the AICPA Governmental Audit Quality Center (GAQC);
  2. Adhere to GAQC's membership requirements; and
  3. Collectively have the knowledge, skills, and experience to be competent for the audit being conducted, including thorough knowledge of the government auditing requirements and:
    1. Texas public school district environment; or
    2. Public sector; or
    3. Nonprofit sector.

Financial Accountability System Resource Guide

Filing of Report

Internet Posting of Audit

Note: For information on the efficiency audit required before a district may hold an election to seek voter approval to adopt a maintenance and operations tax rate, see CCG.

Financial Records

Financial Accountability Rating System

Data Reviewed

  1. Audited financial data in a district's annual financial report, the audited annual report required by Education Code 44.008 [see Audit Requirements and Procedures above].
  2. PEIMS data submitted by a district.
  3. Warrant holds as reported by the comptroller.
  4. The average daily attendance information used for foundation school program purposes for a district.

Basis for Rating

Types of Ratings

Issuance of Ratings


Annual Audit of Dropout Records

Lockhart ISD



DATE ISSUED: 11/22/2019