Purpose of Audit

The purpose of our audit was to review the District’s financial condition for the period July 1, 2011 through June 30, 2015.

Background

The Wheelerville Union Free School District is located in the Town of Caroga in Fulton County. The District, which operates one school with approximately 145 students, is governed by an elected five-member Board of Education. Budgeted appropriations for the 2015-16 fiscal year total approximately $4.4 million.

Key Findings

• The District retained unrestricted fund balance in excess of statutory limits annually over the past four fiscal years.
• The District appropriated fund balance in its annual budgets that was not used.
• The District funded the capital reserve with no established plans for it.

Key Recommendations

• Ensure that the amount of the District’s unrestricted fund balance is in compliance with statutory limits and the District’s fund balance policy.
• Develop more realistic budgeted appropriations based on prior years’ results and anticipated operations.
• Develop a plan for the future funding and use of the capital reserve fund.