Purpose of Audit

The purpose of our audit was to examine the District’s claims auditing process for the period July 1, 2014 through December 31, 2015.

Background

The Lake Placid Central School District is located in the Towns of North Elba and Wilmington in Essex County. The District, which operates two schools with approximately 700 students, is governed by an elected seven-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $18.1 million.

Key Findings

• The Business Manager prints signed checks prior to the claims auditor’s audit and approval of the corresponding claims.
• Not all claims were audited and approved prior to payment.

Key Recommendations

• Only print signed checks after the claims have been audited and approved by the claims auditor.
• Ensure that no claim against the District, other than those allowed under State Education Law, is paid prior to audit and approval by the claims auditor.