Purpose of Audit

The purpose of our audit was to assess the District’s financial condition for the period July 1, 2014 through September 30, 2015.

Background

The Camden Central School District is located in the Towns of Annsville, Camden, Florence, Lee and Vienna in Oneida County; the Town of Constantia in Oswego County; and the Town of Osceola in Lewis County. The District, which operates five schools with approximately 2,300 students, is governed by an elected seven-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $51.2 million.

Key Findings

• The Board did not develop reasonable budgets.
• The Board did not effectively manage the District’s financial condition to ensure that the general fund’s unrestricted fund balance was within the statutory limit.
• District officials maintained excessive balances in three reserve funds.

Key Recommendations

• Adopt budgets with realistic estimates of expenditures.
• Develop a plan to use excess funds in a manner that benefits District residents.
• Review all reserve balances and transfer excess funds to unrestricted fund balance, where allowed by law, or other reserves established and maintained in compliance with statutory directives.