Fiscal Tools
The Fiscal Crisis and Management Assistance Team (FCMAT) has developed the Fiscally Accountable/Independent Risk Analysis as a management tool to evaluate key indicators that may assist a county office of education in determining whether a fiscally accountable or fiscally independent school district, as defined by Education Code Sections 42647 and 42650, has adequate controls to maintain the status of fiscal accountability/independence. FCMAT recommends that the county office conduct this analysis at least annually to ensure ongoing compliance. A lack of adequate controls may indicate the need for possible revocation of the fiscally accountable or fiscally independent status.
A fiscally accountable or fiscally independent district should continually monitor its own accounting controls to ensure ongoing compliance with the requirements, as prescribed in Education Code Sections 42647 and 42650.