SCHOOL BOARD OF PALM BEACH COUNTY
NOTICE OF PROPOSED RULE ADOPTION
RULE TITLE: Audit Committee. RULE NUMBER: 1.091. PURPOSE AND EFFECT: To set forth the requirements for the Audit Committee charter in the form of a Policy and in accordance with School Board Policy 1.09, "Advisory Committees to the Board." SUMMARY: This proposed Policy, based on the existing Audit Committee Charter adopted by the Board in 1998, summarizes the authority, responsibilities, governance, and internal control of the Audit Committee as an advisory committee, and the Committee's relationship to the School Board and District Auditor. SPECIFIC RULEMAKING AUTHORITY: §§ 230.22(2); 230.23(22), Fla. Stat. LAWS IMPLEMENTED: §§ 230.22; 230.23(10)(L); 286.011, Fla. Stat. SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COST (IF ONE HAS BEEN PREPARED): None. Any person who wishes to provide information regarding the statement of estimated regulatory costs, or to provide a proposal for a lower cost regulatory alternative, must do so in writing within 21 days of the publication of this Notice. TEXT OF PROPOSED RULE: Is available from the District’s web site at www.SchoolBoardPolicies.com/revisions.htm. CONTACT PERSON: Lung Chiu, 3300 Forest Hill Blvd., Ste. B-302, West Palm Beach, FL 33406. PERSONS ORIGINATING THE PROPOSED RULE: Lung Chiu and Randall Burks. SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Dr. Art Johnson (and the Audit Committee, at the Joint Meeting with the Board on October 7, 2002). DATE PROPOSED RULE WAS APPROVED BY THE SCHOOL BOARD: October 14, 2002. PROPOSED RULE DEVELOPMENT NOTICE WAS PUBLISHED: October 7, 2002, in The Palm Beach Post. RULE HEARING INFORMATION: Adoption of the proposed Policy is anticipated to be considered at the Board's Special Meeting on Policies on December 2, 2002 in the Board Chambers at 3300 Forest Hill Blvd., West Palm Beach, Fla. The meeting is open to the public.