The Audit Committee shall serve the School Board by assisting in oversight of the Board’s Auditor and reviewing of the District’s internal audit function. The Committee shall make recommendations to the School Board on matters affecting the adequacy of internal controls, accounting procedures, systems and controls, and financial reporting in accordance with laws and regulations. This is a new Committee and will be assisting in the hiring of the Board Auditor.
Board Members shall take care to choose individuals with the appropriate qualifications and background to succeed in this position, such as a Certified Public Accountant, Attorney, or Certified Internal Auditor. The Board shall choose individuals with industry knowledge, such as having experience with internal and external controls, and understanding accounting issues and/or critical policies. Individuals shall be independent from the District. Independence is defined as someone who is not an employee of the District, is not an immediate family member or a District employee, and does not have any financial interest in, or a business interest with, the District. The Board shall make every effort to reflect the racial and ethnic composition of the current Lee County community population whenever possible.
The Committee shall be composed of seven voting members and four non-voting members for a total of eleven members. Each Board Member shall select an individual to serve on the Committee. The Superintendent, Chief Financial Officer, School Board Attorney and Board Liaison or their designees are non-voting members of the Committee, and shall serve in an advisory capacity. No member of another Advisory Committee may serve on the Audit Committee. All voting members of the Committee must be residents of Lee County, Florida.
The term of voting-members shall coincide with the term of the Board Member that appointed them. The maximum term for any voting-member is four years, at which point they may reapply.