New York State Comptroller Thomas P. DiNapoli today announced the following school district audits have been issued.
Fayetteville-Manlius Central School District – Professional Services (Madison County and Onondaga County)
District officials appropriately sought competition through requests for proposals or quotes for professional services totaling approximately $4.3 million (93 percent) of those reviewed. The district had written agreements with 18 of 19 professional service providers and payments were made in accordance with the terms of the agreements.
Interest earnings were not maximized. District officials did not develop and manage a comprehensive investment program or comply with the district’s investment policy. Had officials invested available funds in a financial institution with higher interest rates, the district’s interest earnings could have increased by $215,120.
District officials could achieve cost savings by offering an acceptable health insurance buyout incentive in lieu of health insurance coverage. Savings could range between approximately $10,000 and $251,000. District officials could also save approximately $43,500 by providing select special education programs in-house.
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