POLICY TITLE: Audit Committee. POLICY 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 District Auditor. SPECIFIC POLICYMAKING 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 POLICY: Is available from the District’s website at www.palmbeach.k12.fl.us/LLP/revisions.asp (or from Office of Public Affairs, 3336 Forest Hill Blvd. Ste. B-102, West Palm Beach, FL 33406). PERSON WHO MAY BE CONTACTED REGARDING THE PROPOSED POLICY: Lung Chiu, District Auditor, School District of Palm Beach County, 3318 Forest Hill Blvd., Ste. B-302, West Palm Beach, FL 33406. PERSONS ORIGINATING THE PROPOSED POLICY: Lung Chiu and Randall Burks. SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED POLICY: Bruce Harris, Esq. (and the Audit Committee, on April 12, 2002). DATE PROPOSED POLICY WAS APPROVED BY THE SCHOOL BOARD: April 22, 2002. PROPOSED POLICY DEVELOPMENT WAS PUBLISHED: April 15, 2002, in the Palm Beach Post. HEARING INFORMATION: Adoption of the proposed Policy will be considered at the School Board's Special Meeting on Policies on June 3, 2002 (anticipated to be 3:30 p.m.), in the Board Chambers at 3300 Forest Hill Blvd., West Palm Beach, Fla. The meeting is open to the public.