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September 26, 2013

 

Comptroller DiNapoli Releases School Audits

New York State Comptroller Thomas P. DiNapoli today announced his office completed audits of the Andover Central School District, Gloversville Enlarged City School District, Hancock Central School District and the Laurens Central School District.

“My office’s audits of school districts, charter schools and BOCES help schools improve their financial management practices,” DiNapoli said. “These audits are tools for schools to make sure proper policies and procedures are in place to protect taxpayer dollars and provide students with the best possible education.”

Andover Central School District – Internal Controls Over Reserve Funds (Allegany County)
The annual report prepared by the school business administrator does not include a summary statement of projected use and need of reserve funds. As a result, the board’s ability to monitor the projected use and need of reserve funds could be limited. Currently, the district has more than $1 million in a debt service reserve that officials could not associate with any outstanding debt.

Gloversville Enlarged City School District – Board Oversight and Information Technology (Montgomery County)
The school district does not have an active audit committee. Auditors found the district has not received an internal audit report since 2010-11 and the district has not appointed an internal auditor for the 2012-13 school year. In addition, the school board did not adequately design and implement policies over the security of information technology.

Hancock Central School District – Financial Condition (Delaware County)
For fiscal years 2007-08 through 2010-11, district budgeting practices generated $2.76 million in operating surpluses, which caused the accumulated fund balance to exceed the statutory maximum of 4 percent. To reduce the unexpended surplus, district officials made unplanned transfers to the district’s reserves. For fiscal years 2011-12 and 2012-13, the district was able to reduce its unexpended surplus funds to a more reasonable level.

Laurens Central School District – Budgeting and Reserves (Otsego County)
The school district has accumulated reserve balances in excess of the district’s average needs and has accumulated significant total fund balance, including reserves. For the fiscal years 2007-08 through 2011-12, the district’s total fund balance increased to $3.6 million, with reserves at nearly $3 million, or 82 percent of the fund balance.



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For access to state and local government spending and nearly 50,000 state contracts, visit http://www.openbooknewyork.com/. The easy-to-use website was created by Comptroller DiNapoli to promote openness in government and provide taxpayers with better access to the financial workings of government.



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