ALEXANDRIA BAY â An audit of the Alexandria Central School District was released Friday by state Comptroller Thomas P. DiNapoli, citing various findings related to the districtâs budget and fund balance.
Key findings of the audit include that district officials did not adopt reasonable budgets and adequately manage financial condition during the audit period, budgeted appropriations from 2016-17 through 2018-19 exceeded actual expenditures by $844,261, or 6.4%, surplus fund balance in the general fund exceeded the 4% statutory limit for the past three fiscal years â as of June 30, 2019, surplus fund balance was $1.75 million, or 12.8% of the next yearâs budget.
The audit further found district officials have not developed a long-term financial plan or a comprehensive reserve fund policy, and officials did not implement the recommendations in an audit report released in March 2016 containing similar findings and recommendations.