The Alfred-Almond school district recently underwent an audit performed by the New York State Comptroller's Office.
You can review the full audit HERE.
Audit Objective
Determine whether the Board and District officials properly
managed fund balance.
Key Findings
-The Board overestimated appropriations by a total of $2.3
million from 2015-16 through 2017-18 and annually appropriated an average of
$495,000 of fund balance that was not used to finance operations.
-As of June 30, 2018, surplus fund balance totaled $1.7
million and was 12 percent of 2018-19 appropriations, exceeding the statutory
limit by approximately $1.2 million or 8 percentage points.
-The Board has not adopted a comprehensive written fund balance
policy.
Key Recommendations
-Adopt budgets that include reasonable estimates for
appropriations and the amount of fund balance that will be used to fund
operations.
-Reduce surplus fund balance to comply with the statutory
limit and use the excess funds in a manner more beneficial to taxpayers.
-Adopt a comprehensive written fund balance policy.
The school district provided this response:
