Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period July 1, 2011 through August 12, 2015.

Background

The Berkshire Union Free School District is a special act school district located on the grounds of the Berkshire Farm Center in the Town of Canaan, Columbia County. The District, which operates two schools with approximately 120 students, is governed by an appointed five-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $6.7 million.

Key Findings

• District officials did not adequately monitor the District’s financial condition.
• To alleviate cash flow difficulties, District officials issued revenue anticipation notes (RANs) each of the past four fiscal years.

Key Recommendations

• Monitor revenues and expenditures throughout the year and take corrective action when necessary to avoid incurring expenditures in excess of available revenues.
• Develop a plan to repay outstanding RANs.