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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Bemus Point Central School District – Reserve Funds (2014M-281)


Released: December 5, 2014 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the District’s reservation of fund balance for the period July 1, 2009 through August 27, 2014.

Background

The Bemus Point Central School District is located in the Towns of Ellery, Ellicott and Gerry in Chautauqua County. The District, which is governed by an elected seven-member Board of Education, operates two schools with 745 students. Budgeted appropriations for the 2014-15 fiscal year total approximately $12.9 million.

Key Findings

  • The District’s retiree health insurance reserve is not a legally permissible reserve.
  • The improperly restricted reserve fund amount should be included in the District’s unrestricted fund balance, which would then exceed the statutory limit.

Key Recommendations

  • Ensure that improperly restricted funds are properly reclassified as unrestricted fund balance.
  • Develop a plan to use the excess fund balance in a manner that benefits District taxpayers.

Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email: localgov@osc.state.ny.us
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236