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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

New Hyde Park-Garden City Park Union Free School District - Bank Reconciliations (2018M-80)

Released: July 20, 2018 -- [read complete report - pdf]

Audit Objective

Determine whether the Board ensured that the District’s bank reconciliations were accurately prepared and independently reviewed.

Key Findings

  • The bank reconciliations we reviewed were timely and, with the exception of the payroll account, accurate.
  • The District’s book balance for the payroll bank account did not reflect the true cash balance.
  • The bank reconciliations were reviewed by a District official who was not independent of recording cash and journal entry transactions.

Key Recommendations

The Board should:

  • Ensure that the payroll account balance shown on the District’s books represents the true book balance.
  • Ensure the review of bank reconciliations is performed by an individual who is independent of recording cash and journal entry transactions.

District officials generally agreed with our recommendations and indicated they plan to initiate corrective action.

Background

The New Hyde Park-Garden City Park Union Free School District (District) serves the Towns of Hempstead and North Hempstead in Nassau County. The District is governed by an elected seven-member Board of Education (Board). The Board is responsible for the general management and control of the District’s financial and educational affairs. The Superintendent of Schools is the chief executive officer and is responsible, along with other administrative staff, for the District’s day-to-day management under the Board’s direction. The Assistant Superintendent for Business oversees the District’s business operations. The District Treasurer (Treasurer) is responsible for receiving, disbursing and maintaining custody of District funds and reconciling bank accounts.

Quick Facts
Full-Time Employees 257
Enrollment 1,710
2017-18 General Fund Appropriations $38.2 Million

Audit Period

July 1, 2016 – September 30, 2017


Local Government and School Accountability Contact Information:

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