Purpose of Audit

The purpose of our audit was to evaluate the District’s financial management for the period July 1, 2010 through September 10, 2015.

Background

The South Seneca Central School District is located in the Towns of Ovid, Lodi, Romulus and Covert in Seneca County and the Town of Hector in Schuyler County. The District, which operates two schools with approximately 750 students, is governed by an elected seven-member Board of Education. Budgeted general fund appropriations for the 2015-16 fiscal year total approximately $23 million.

Key Findings

• The District has not developed a formal, documented multiyear capital plan.
• The District has not developed a plan to determine appropriate and necessary reserve fund balance levels or defined its intentions for using reserves as a financing source for capital improvement projects.

Key Recommendations

• Develop and adopt a multiyear capital plan for a three- to five-year period.
• Adopt a reserve fund plan which addresses the accumulation and use of reserve funds.