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Comptroller releases school audits

ALBANY - State Comptroller Thomas DiNapoli’s office completed the following audits:

 

Broadalbin-Perth Central School District – Health Insurance Buyouts and Separation Payments (Fulton County) 
Auditors found health insurance buyout payments and separation payments were accurate, in compliance with the terms of employee contracts and approved by the board. 

Medina Central School District – Reserve Funds (Orleans County) 
The total balance of the district’s reserves has increased from $1.2 million to $12.5 million over the last five years. The district funded a repair reserve without the required voter approval. The district also established and funded a liability reserve to $800,000 for a purpose that was not permissible. 

Owego-Apalachin Central School District – Capital Project and Financial Condition (Tioga County) 
District officials did not develop reasonable estimates for expenditures and use of fund balance in the annual budget. While revenue estimates were generally close to the actual revenues received, expenditures for fiscal years 2008-09 through 2012-13 were significantly overestimated. Auditors also found the board planned properly for an ongoing capital project, but monitoring the project’s progress has been hampered by a lack of information. 

Sullivan West Central School District – Financial Condition (Sullivan County) 
District officials consistently overestimated budget appropriations and used more unexpended surplus funds than necessary to fund operations. The district incurred operating surpluses, some of which were transferred to reserves at the end of each fiscal year, resulting in real property taxes that were higher than necessary. Two reserve fund balances were in excess of the amounts needed for authorized purposes.