101 Agency Audit Specifications
Original Approval Date: July 1, 1988
Revision Effective: March 18, 2015
Supersedes: #137
This policy is established in order to assure accountability and consistency among contract agencies of the Board.
In order to contract with the Tri-County Board of Recovery and Mental Health Services, all agencies shall be required to meet the following audit specifications.
Audit firm/contracts
The firm selected to perform the audit must meet all current requirements necessary to complete this type of audit, and must also provide documentation regarding their most recent peer review.
The Tri-County Board shall be a party to all contracts and/or engagement agreements. If another board arranges for an agency’s audit because the agency operates in multiple board areas, this will be accepted.
If the Board chooses to contract directly for the audits, agencies will be notified so that they can plan accordingly.
Audit Requirements
All audits must follow OMB Audit Circular A-133 guidelines if applicable as well as Ohio Department of Mental Health and Addiction Services (OMHAS) audit guidelines.
At a minimum the audit report must contain: financial statements, including a statement of financial position or balance sheet, compliance audit, management letter if applicable, internal controls audit, cash reserve balance and, if possible, functional financial statement (by the types of programs).
Audit submission/Post Audit
In order to assure that funding is not interrupted all audit reports and any applicable Corrective Action Plans (CAPs) must be received at the Board offices no later than 180 days after the end of the audit period.
Agencies shall submit all reports and transmittal communications along with a final report of the cost to complete the engagement per the Board’s current Allocation Manual.
As part of the audit engagement, representatives from the audit firm should be available to come to the Board for a post audit conference at the Board’s request. This may include a presentation to the Finance/Audit Committee or other appropriate Board committee.
Additional Board Reviews
The Tri-County Board will continue to conduct additional audits and other service or program reviews of contract agencies in order to assure compliance with funding and program requirements. These reviews will be scheduled at least annually, but may be more frequent if needed.
Revision Effective: March 18, 2015
Supersedes: #137
This policy is established in order to assure accountability and consistency among contract agencies of the Board.
In order to contract with the Tri-County Board of Recovery and Mental Health Services, all agencies shall be required to meet the following audit specifications.
Audit firm/contracts
The firm selected to perform the audit must meet all current requirements necessary to complete this type of audit, and must also provide documentation regarding their most recent peer review.
The Tri-County Board shall be a party to all contracts and/or engagement agreements. If another board arranges for an agency’s audit because the agency operates in multiple board areas, this will be accepted.
If the Board chooses to contract directly for the audits, agencies will be notified so that they can plan accordingly.
Audit Requirements
All audits must follow OMB Audit Circular A-133 guidelines if applicable as well as Ohio Department of Mental Health and Addiction Services (OMHAS) audit guidelines.
At a minimum the audit report must contain: financial statements, including a statement of financial position or balance sheet, compliance audit, management letter if applicable, internal controls audit, cash reserve balance and, if possible, functional financial statement (by the types of programs).
Audit submission/Post Audit
In order to assure that funding is not interrupted all audit reports and any applicable Corrective Action Plans (CAPs) must be received at the Board offices no later than 180 days after the end of the audit period.
Agencies shall submit all reports and transmittal communications along with a final report of the cost to complete the engagement per the Board’s current Allocation Manual.
As part of the audit engagement, representatives from the audit firm should be available to come to the Board for a post audit conference at the Board’s request. This may include a presentation to the Finance/Audit Committee or other appropriate Board committee.
Additional Board Reviews
The Tri-County Board will continue to conduct additional audits and other service or program reviews of contract agencies in order to assure compliance with funding and program requirements. These reviews will be scheduled at least annually, but may be more frequent if needed.
