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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts


PUC Achieve Charter School – Board Oversight (2016M-316)


Released: May 5, 2017 -- [read complete report - pdf]

Purpose of Audit

The purpose of our audit was to review the Board’s oversight of financial operations for the period July 1, 2014 through March 30, 2016.

Background

The PUC Achieve Charter School, located in the City of Rochester in Monroe County, is a public school financed by local, State and federal resources that is not under the control of the local school board. The School, which is governed by a seven-member Board of Trustees, provided education to approximately 85 students in grade five during the 2014-15 school year. Operating expenditures for the same year totaled $2.24 million.

Key Findings

  • The local Board members did not actively direct and monitor the School’s financial operations.
  • During the first year of operations, revenues fell short of estimates, compounded by higher-than-expected expenditures, resulting in a year-end loss of approximately $470,000.
  • One of the School’s Trustees appears to have a prohibited interest in the School’s transactions with a limited liability company.

Key Recommendations

  • Actively monitor the School’s financial condition and develop a plan to improve its current condition.
  • Actively monitor the adopted budget and approve all budget transfers and modifications as necessary.
  • Consult with legal counsel to address any potential conflicts of interest.

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