Purpose of Audit

The purpose of our audit was to evaluate the District’s financial operations for the period of July 1, 2008 through December 13, 2013.

Background

The Randolph Central School District is located in the Towns of Coldspring, Conewango, Leon, Napoli, Randolph, Red House and South Valley in Cattaraugus County and the Towns of Ellington and Poland in Chautauqua County. The District is governed by an elected seven-member Board of Education and operates two schools, with approximately 970 students. Budgeted appropriations for the 2013-14 fiscal year total approximately $18.7 million.

Key Findings

• District officials consistently overestimated budgeted appropriations for fiscal years 2008-09 through 2012-13 by more than $6.7 million, which resulted in combined operating surpluses totaling $1.3 million.
• District officials could not demonstrate a planned need for approximately $4.4 million held in reserve funds.

Key Recommendations

• Develop realistic appropriation and unexpended surplus funds estimates for the annual budget.
• Develop comprehensive policies for establishing and using reserve funds and a plan for the use of the excess balances in the reserve funds