For School Districts and Auditors of School Districts!
SAVE TIME AND MONEY WITH AUDIT-L.E.A.!
Powerful Analytical Tools to Audit, Manage and Prepare Reports for Texas School Districts!
RELEASE 25 for 2021 is now available! ORDER TODAY!!
AUDIT-L.E.A. is Windows® based software which assists you in preparing financial statements. It does much more! School Districts can use AUDIT-L.E.A. to prepare monthly reports OR interim reports to see if the district is "on track" for meeting GAAP and T.E.A. requirements. Almost all reports can either be printed or exported to an Excel® or a PDF file. MOST IMPORTANTLY, any changes from T.E.A. on the audit data feed requirements, new account codes and new audit requirements are included in the new Release. Let AUDIT-L.E.A. keep you UP TO DATE!!
AUDIT-L.E.A. can also assist districts in "overseeing" the year-end accounting adjustments and the conversion and consolidation adjustments necessary to prepare the government wide statements. WITH AUDIT-L.E.A. DISTRICTS CAN DEMONSTRATE COMPENTENCY as required by GAO and AICPA. Some Districts may wish to generate their own financial statements.
AUDIT-L.E.A. not only provides a system for preparing the annual financial report. It also includes many features aimed at assisting both the school district and the auditors in testing, analyzing and adjusting the trial balance data and the budget data. The user can query, filter, prepare lead sheets, run compliance tests, export subsets of data to Excel®, compare current year with prior year, budget with actual, etc. It is a powerful analytical tool! The Individual Fund Schedule Routine in the Report Generator allows you to prepare budget comparisons and/or prior year current year comparisons on any single fund.
New Features with Release 25 for 2025 include:
- Extensive revision to accommodate monitors with different resolutions and to specifically allow the software to work on the new very high-resolution monitors and screens. There is a fresh new look with new icons and toolbars.
- New data files and print routines to implement the new reporting requirements for Fiduciary Funds. This includes a new combining statement for Custodial Funds for the Additions, Deductions and Changes in Fiduciary Net Position.
- Revised MOE tests for IDEA B to include the incude the new PIC code 43 which is included with the state and local funded expenditures serving special education students from the state Dyslexia allotment. Again this year the numbers for the line items to be entered from the Summary of Finance have been changed.
- The spending compliance test for the Dyslexia Allotment includes both PIC 37 and PIC 43.
- All compliance audit programs in the Audit Program Generator have been revised with the requirements in the August, 2020, Compliance Supplement from OMB in 2 CFR Part 200 Appendix XI. These will be updated as necessary when the 2021 Compliance Supplement is available.
- The PEIMS edit checks have been revised with the latest information from T.E.A. These also will be revised if there are additional revisions.
AUDIT-L.E.A. is a useful tool for school district managers to use throughout the year! Of course it continues to be the BEST software on the market for performing audit adjustments and the consolidation and conversion adjustments necessary for preparation of the annual report. All of the familiar check routines are there for you!
AUDIT-L.E.A. has three Component Parts
The TRIAL BALANCE PROGRAM is the workhorse for importing, analyzing, testing and adjusting accounting data from the district's accounting system.
The REPORT GENERATOR PROGRAM is the report preparation program and includes the supplemental accounting system required for preparing the government wide statements. This component also prepares both the Audit Data Feed and the PDF file of the Annual Report which must be submitted to T.E.A.
The AUDIT PROGRAM GENERATOR generates a planning and pre-fieldwork program, an audit program, a checklist for school districts to demonstrate that they have sufficient internal controls and competency for reviewing the statement preparation, standard documents such as engagement letters, and a comprehensive compliance program for federally funded and TEA mandated programs which includes the very latest updates of requirements from OMB's Compliance Supplement in 2 CFR Part 200 and from T.E.A. The compliance guidelines can be especially helpful to federal program directors.
AUDIT-L.E.A. includes the following features:
- A unique Conversion and Consolidation System converting modified accrual of the fund statements to accrual data necessary for the government wide statements. This routine creates an excellent audit trail for the preparation of the government wide financial statements.
- An easy routine for importing data from the District's accounting system into the software including importing the next FY budget data into the new Budget Module.
- An easy to use adjustment routine for entering year-end adjusting entries necessary to prepare financial reports.
- Worksheets for developing information and documenting the procedures necessary for preparation of the annual report—notes and exhibits.
- Worksheet for calculating and allocating by function the annual depreciation for capital items.
- Check routines in the Trial Balance module to ensure compliance with PEIMS reporting requirements.
- Test routines in the Trial Balance module and in the Proposed Budget Module including the PEIMS edit checks.
- Check routines in the Report Generator module to ensure consistency between exhibits in the annual report.
- Menu option to create the T.E.A. Audit Data Feed file as required by T.E.A.
- Easy export routine to export subsets of data into Excel©, PDF, Word, and many other formats.
- A word-processing module in the Report Generator allowing for preparing Auditor's Reports and providing a sample document for Notes and MD&A.
- A word-processing routine for creating and editing the audit programs.
- A drill down routine in the Report Generator which quickly collects all accounts in the Trial Balance which are summed to a particular cell in the data files used to prepare the report.
- Query routines and Status Reports by fund or fund type allow for quick assessment of particular items.
- Prior year/current year comparisons and budget to actual comparisons.