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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Springville-Griffith Institute Central School District – Financial Management (2011M-218)


Released: February 10, 2012 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to evaluate the District’s financial management for the period July 1, 2008 to August 5, 2011.

Background

The Springville-Griffith Institute Central School District is located in the Erie County and Cattaraugus County. The District is governed by the Board of Education which comprises seven elected members. The District’s budgeted general fund expenditures for the 2010-11 fiscal year were $35 million.

Key Findings

  • The District included more realistic estimates of appropriations in the 2010-11 budget than in prior years, and used fund balance and reserves to help fund operations. This resulted in the fund balance being reduced to an amount that was closer to the amount allowed by statute at the end of the 2010-11 fiscal year than in prior years.
  • The 2011-12 budget also included more realistic estimates of appropriations than in prior years, and used fund balance and reserves to help fund operations.

Key Recommendations

  • Continue to prepare budgets that include realistic appropriations based on contractual and historical data.
  • Continue to prepare a realistic estimate of unreserved fund balance for consideration by the Board in developing the ensuing year’s budget.

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