N.J. Admin. Code § 6A:23A-6.4

Current through Register Vol. 56, No. 9, May 6, 2024

Section 6A:23A-6.4 - Internal controls

(a) As a condition of receiving State aid, each school district and CVSD shall establish specific policies and procedures on internal controls designed to provide management with reasonable assurance that the school district's goals and objectives will be met and meet the requirements of N.J.A.C. 6A:23A-6.5 through 6.13. Internal controls shall promote operational efficiency and effectiveness, provide reliable financial information, safeguard assets and records, encourage adherence to prescribed policies, and comply with law and regulation.

(b) The subchapter's specific internal controls shall be established together with other internal controls contained in N.J.A.C. 6A and other law and regulations, required by professional standards, and as deemed necessary and appropriate by school district management. Any school district may submit to the Commissioner a written request to approve an alternative system, approach, or process for implementing the internal controls required in this subchapter. The application shall include documented evidence, including, but not limited to, an independent, third-party written assessment that the alternative system, approach, or process will achieve the same safeguards, efficiency, and other purposes as the specified internal control requirement(s).

Amended by 49 N.J.R. 1038(a), effective 5/1/2017