Audit Reveals Gowanda Central Overestimated Expenditures By $6.2 Million

Stock Image.


GOWANDA-A state comptroller’s audit released Thursday revealed Gowanda Central School District failed to utilize the $6.2 million in overestimated expenditures appropriated to the district between 2013-16.

According to comptroller James DiNapoli, Gowanda’s unrestricted fund balance exceeded the statutory limit of 4%.

The following were key recommendations made by DiNapoli:



  • Adopt budgets that reflect the District’s actual needs based on historical trends or other identified analysis.
  • Develop a plan to reduce the amount of unrestricted fund balance and use excess funds to benefit residents.
  • Review all reserves to determine if the amounts reserved are necessary and reasonable and adopt a written reserve fund policy.

 



Make it easy to keep up to date with more stories like this. Download the WNYNewsNow app now on the Apple App Store and Google Play Store. Have a news tip? Email newsdesk@WNYNewsNow.com, send us a message on Facebook, or Twitter.

 

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.