The Stillwater Central School District is seeking community members and parents/guardians to be on the district’s audit committee. The audit committee provides independent advice, assistance, and recommendations to the Board of Education in the oversight of the internal and external audit functions of the district.

The committee members collectively should possess the knowledge in accounting, auditing, financial reporting and school district finances needed to understand and evaluate the school district’s financial statements, the external audit and the district’s internal audit activities. The audit committee’s members, collectively, should:

• Possess the requisite knowledge necessary to understand technical and complex financial reporting issues.
• Have the ability to communicate with auditors, public finance officers and the school board.
• Be knowledgeable about internal controls, financial statement audits and management/operational audits.

Membership

The membership duties of the Stillwater Central School District’s Audit Committee include the following:

Good Faith

Members of the committee shall perform their duties in good faith, in a manner they reasonably believe to be in the best interests of the committee and the district with such care as a generally prudent person in a similar position would use under similar circumstances.

Independence

An individual, other than members of the Board of Education, may not serve on an audit committee constituted as an advisory committee if he or she is:

• Employed by the district.
• Currently provides, or within the prior two years, has provided, goods or services to the district.
• Is an immediate family member (spouse, spouse equivalent or dependent [whether or not related]) or close family member (parent, sibling or nondependent child) of an individual who is an employee, officer or contractor providing services to the district.
• Is the owner of or has a direct and material interest in a company providing goods or services to the district.

Confidentiality

During the exercise of duties and responsibilities, the committee members may have access to confidential information. The committee shall have an obligation to the district to maintain the confidentiality of such information.

If interested in volunteering, please contact Renee Price as soon as possible.