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NYS Comptroller


Audits of Local Governments and School Districts

Report Highlights

Hyde Park Central School District - Fixed Assets (2019M-103)

Released: August 16, 2019 -- [read complete report - pdf]

Audit Objective

Determine whether District officials ensured that fixed assets were properly recorded, accounted for and disposed of.

Key Findings

  • The District does not have a comprehensive policy for identifying and recording fixed assets.
  • District officials improperly appointed the purchasing agent as the Property Control Manager, resulting in an inadequate segregation of duties.
  • Fixed assets were not tagged as District property for seven items valued at $42,669, out of 30 assets that we tested totaling $300,614.
  • Assets disposed of were not removed from the master inventory list.

Key Recommendations

  • The Board should adopt a comprehensive policy that includes threshold amounts for controlling inventory and procedures for maintaining fixed asset records.
  • District officials should ensure all fixed assets with values that exceed the threshold carry a tag identifying them as District property.
  • District officials should review fixed asset records each year and ensure they are accurate and up to date.

District officials generally agreed with our recommendations and indicated they will take corrective action.


The Hyde Park Central School District (District) is located in Hyde Park, Dutchess County. The Board of Education (Board) is responsible for managing the District’s operations. The Superintendent of Schools (Superintendent) is the chief executive officer and is responsible, along with other staff, for the District’s day-to-day management under the Board’s direction.

The District contracts with an outside vendor to maintain its fixed asset inventory.

Quick Facts
2017-18 Budgeted Appropriations$92 million
Fixed Assets Purchased During the Audit Period$5,190,248
Fixed Assets Tested$300,614

Audit Period

July 1, 2017 – September 20, 2018

Local Government and School Accountability Contact Information:

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