January 2009 - The district has received final audit reports for the 2007-2008 fiscal year.  These reports represent a comprehensive and lengthy review of GUHSD's financial operations by independent auditors.  The objective of this annual process, which starts in April and concludes the following December, is to provide verified financial information to various users including oversight agencies such as the Arizona Auditor General and the Arizona Department of Education, bond holders, bond rating agencies, lenders, and interested district patrons.

Glendale Union High School District received the following:

Comprehensive Annual Financial Report or CAFR  This report is divided into three main sections including an introduction to the district, the financial statements including the auditor's report, and statistical information on financial trends and other economic data.  The most important item to note is the Independent Auditor's Report which expresses an "unqualified opinion" on the financial statements indicating the district is in compliance with generally accepted accounting principles and fairly present Glendale Union High School District's financial position.  This opinion is the highest and most desirable possible.

The Single Audit reporting package represents testing of the district's federal grants and the related internal control systems to ensure legal compliance.  The report summary has an unqualified opinion and identifies the programs selected for testing (Special Education Cluster and Nutrition Cluster). The auditors did not identify any significant deficiencies in internal controls considered a material weakness. The auditors reported that we complied in all material respects with laws, regulations, contracts and grants that would materially affect the district’s basic financial statements or federal programs.

The USFR Compliance Questionnaire provides information to the Auditor General relative to the compliance with the Uniform System of Financial Records. The USFR is a compilation of recommended accounting practices and laws that GUHSD must follow as a school district.  The questionnaire consists of 22 pages and over 200 questions and tests that the auditor must address in 21 areas including budgeting, cash, inventory, capital assets, revenues, expenditures, payroll, travel, financial reporting, attendance reporting, transportation, food service, student activities, and long term debt. 

Taken as a whole, these reports demonstrate that Glendale Union High School District operates a highly efficient, legally compliant and accurate financial operation.  The financial information the district provides is accurate and can be relied upon to demonstrate compliance with laws, budgets, and other funding restrictions.