[read complete report – pdf] 

Audit Objective 

Determine whether Greenburgh Central School District (District) officials properly established the District’s tax certiorari reserve fund and maintained it at a reasonable level.

Key Findings 

The Board of Education (Board) properly established the tax certiorari reserve fund and maintained it at a reasonable level. However, District officials did not develop procedures to ensure: 

• Tax certiorari judgments were adequately tracked. 
• Reliable records were maintained, such as a complete and accurate listing of all outstanding tax certiorari cases, which was also noted in our prior audit (Payroll and Reserve Funds - 2016M-242) that we released publicly in September 2016. 
• The annual report of the District’s tax certiorari reserve funds provided to the Board contained all information required by District policy. 

Without adequate and reliable records and reporting, the Board and District officials have no assurance that the amount in the tax certiorari reserve fund is reasonable or necessary. 

Key Recommendations 

• Develop procedures to ensure adequate and reliable records to support the amounts in the tax certiorari reserve fund are maintained and the annual report of all reserve funds provided to the Board contains all information required by District policy. 
• The Board should use the information in the annual report prepared by the Treasurer to determine how to maintain and manage the District’s tax certiorari reserve fund balance. 

District officials generally agreed with our findings and indicated they plan to initiate corrective action.