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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Pine Valley Central School District - Financial Management (2019M-35)

Released: June 7, 2019 -- [read complete report - pdf]

Audit Objective

Determine whether the Board and District officials properly managed finances by ensuring budget estimates and surplus fund balance were reasonable.

Key Findings

  • The Board overestimated appropriations by a total of almost $3.2 million (7 percent) over a three-year period.
  • As of June 30, 2018, surplus fund balance totaled $2.4 million, 15 percent of the 2018-19 budgeted appropriations, exceeding the statutory limit by more than $1.8 million.
  • Despite the District generating operating surpluses totaling almost $2.2 million during the 2015-16 through 2017-18 fiscal years, the Board raised real property taxes by $50,000 during that same period.

Key Recommendations

  • Adopt annual budgets that include reasonable estimates for appropriations.
  • Reduce surplus fund balance to within the statutory limit and use excess funds in a manner more beneficial to taxpayers.

District officials agreed with our findings.

Background

Pine Valley Central School District (District) serves the Towns of Arkwright, Charlotte, Cherry Creek, Ellington and Villenova in Chautauqua County and the Towns of Conewango, Dayton, Leon and New Albion in Cattaraugus County.

The nine-member Board of Education (Board) is responsible for the management and control of financial and educational affairs. The Superintendent of Schools (Superintendent) is the District’s chief executive officer and is responsible, along with other administrative staff, for day-to-day management under the Board’s direction. The Business Executive oversees the business office and maintains financial records. The Board, Superintendent and Business Executive are responsible for developing the budget.

Quick Facts
Enrollment571
Employees117
2018-19 Appropriations$15.8 million

Audit Period

July 1, 2015 – January 22, 2019.


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