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NYS Comptroller


Audits of Local Governments and School Districts

Clymer Central School District – Financial Management (2016M-187)

Released: August 12, 2016 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the District’s financial management practices for the period July 1, 2012 through April 1, 2016.


The Clymer Central School District is located in the Towns of Clymer, French Creek, Mina and Sherman in Chautauqua County. The District, which operates one school with approximately 425 students, is governed by an elected five-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year totaled approximately $10.2 million.

Key Findings

  • Unrestricted fund balance exceeded the statutory limit for the 2012-13 through 2014-15 fiscal years.
  • Two of the District’s reserves may be overfunded.
  • In 2013-14 and 2014-15, District officials improperly account for two bond anticipation notes (BANs) and the corresponding expenditures in the general fund, rather than in the capital projects fund as required.

Key Recommendations

  • Ensure that the District’s unrestricted fund balance is in compliance with statutory limits and develop a plan to use the surplus funds.
  • Review all reserves at least annually to determine if the amounts are necessary and reasonable.
  • Account for BANs and the related purchases in the capital projects fund.

Local Government and School Accountability Contact Information:

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