Purpose of Audit

The purpose of our audit was to evaluate the District’s financial condition for the period July 1, 2012 through October 22, 2015.

Background

The Clyde-Savannah Central School District is located in the Towns of Butler, Galen, Lyons, Rose and Savannah in Wayne County and the Towns of Junius and Tyre in Seneca County. The District, which operates two schools with approximately 840 students, is governed by an elected nine-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $18.8 million.

Key Findings

• The Board did not adopt realistic budgets based on historical or known trends, and the District generated $4.3 million in surpluses from fiscal years 2012-13 through 2014-15 despite budgeting for operating deficits to reduce fund balance.
• Five of the District’s reserve funds were overfunded and potentially unnecessary.

Key Recommendations

• Adopt budgets that reflect the District’s actual needs and include realistic estimates based on historical trends or other identified analysis.
• Review all reserve balances and determine if the amounts reserved are necessary, reasonable and in compliance with statutory requirements.