Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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1.02.01: Targeted audits and reviews
Public Act 300 of 1980 establishes that ORS is responsible for the administration of the Michigan Public School Employees' Retirement plan and provides the statutory authority for targeted audits and reviews of any reporting unit to ensure proper reporting to ORS.
As part of ORS' ongoing commitment to providing its members with the most fiscally sound and accurate retirement system possible, we may select your reporting unit for an audit as part of the routine audit cycle. We review documentation supporting the member information reported to the system relative to the applicable audit period.
A targeted audit focuses on reporting unit records related to wage, service, and contribution reporting. The list below shows audits and reviews ORS performs routinely.
|
Audit or Review Name |
Description |
|
Payroll Audit |
Audit to ensure reporting units are submitting complete wage, service, contribution, and census data on defined members of the retirement system. |
|
Weekly Workers' Compensation (WWC) Audit |
Full review of reported wages and hours under the 8000 Class code for Workers' Compensation. Reporting units are required to report WWC. |
|
MPSERS Under 19 |
Review of all students under the age of 19 to ensure they are being reported correctly. |
|
Independent Contractor |
Review of all employees to ensure they are being reported correctly. This audit includes independent contractors and those hired through a third party. |
|
Professional Services Leave (PSL) Audit |
Audit to ensure reporting units are reporting PSL time appropriately in compliance with PA 300 of 1980. |
|
Annual Wage Review: Administrators |
Annual review of wage increases for members reported using the 1110, 1120, 1130 class codes for compliance with the Normal Salary Increase (NSI). |
|
Annual Wage Review: Non-Administrators |
Annual review of wage increases for non-administrative positions for compliance with the Normal Salary Increase (NSI). |
|
Reporting Authorization Certification and Administrator Audit |
Annual review of access to the Employer Reporting website as well as appropriate contacts updated with ORS. ORS verifies that each reporting unit is reporting a superintendent or assistant superintendent and ensure that they are being reported correctly. |
|
Inactive Charter Affidavit Review |
Review to ensure all Michigan charter schools/public school academies (PSAs) registered with the Michigan Department of Education are reporting appropriately to ORS. Charters/PSAs go in and out of reporting status based on employment of members. |
|
Administrator Contract Review |
Complete review of a member's employment contracts and wage detail, to identify reportable compensation and additional fringe benefits, as appropriate for reporting towards their retirement account. |
|
Settlements Review |
Review of settlement agreements to identify reportable compensation. |
|
Compensation Determinations |
Review of requested documentation to identify reportable compensation. |
Other audits and reviews may be conducted as needed to ensure that the retirement system is fulfilling its responsibilities.
Last updated: 07/29/2022