Section 120.14. Audit of school district accounts.

  In a common or union high school district:

(1)  At the close of each fiscal year, the school board of each school district shall employ a licensed accountant to audit the school district accounts and certify the audit. The audit shall include information concerning the school district's self-insurance plan under s. 66.0137 (4m) or 120.13 (2) (b) , as specified by the commissioner of insurance, and information about expenditures for community programs and services under s. 120.13 (19) . If required by the state superintendent under s. 115.28 (18) , the audit shall include an audit of the number of pupils reported for membership purposes under s. 121.004 (5) . The cost of the audit shall be paid from school district funds. Annually by September 15, the school district clerk shall file a financial audit statement with the state superintendent.

(3)  The annual meeting may authorize and direct an audit of the school district accounts by a certified public accountant licensed or certified under ch. 442 .

(4)  The department shall establish by rule a standard contract and minimum standards for audits performed under this section.

1971 c. 108 ss. 5 , 6 ; 1971 c. 125 s. 523 ; 1975 c. 224 ; 1977 c. 29 ; 1983 a. 27 ; 1983 a. 189 s. 329 (17m) ; 1985 a. 29 ; 1993 a. 16 ; 1995 a. 27 s. 9145 (1) ; 1997 a. 27 ; 2001 a. 16 ; 2013 a. 306 ; 2015 a. 55 . Cross-reference: See also s. PI 14.03 , Wis. adm. code.