SINCLAIRVILLE - Finances were in the forefront of the most recent meeting of the Cassadaga Valley Central School District Board of Education.
Wayne Rishell, an independent auditor from Buffamante Whipple, P.C., presented information to the board and the public about the three audit reports he prepared for the district.
According to generally accepted accounting principles, Rishell said he could give a "clean unqualified opinion." That is good news for the district because it means he has full faith and confidence in the numbers presented.
In the matter of internal controls, there was one matter that Rishell had to disclose. The auditors assist in the way reports are presented to the state. Most school districts follow the same procedure of having auditors assist with the report, but it still has to be mentioned.
Rishell also audited special funds: IDEA (Individuals with Disabilities Educational Act), the lunch program, and the education jobs fund. Rishell said that this audit went well.
"There was nothing (adverse) that we needed to report," he said.
During Rishell's power point presentation, he showed a line graph tracking expenses and revenues over a number of years.
"If you don't remember anything else, remember this graph," he said. "The revenues and expenses matched very well. Administration is able to manage expenses well. This is not an easy job."
The school board passed a motion authorizing the issuance of refunding bonds in an aggregate principal amount not to exceed $2,400,000. Essentially this means that bonds scheduled to come due in the years 2013 to 2015 will be refinanced.
The purpose of this is to realize some debt service savings. Business manager Debra McAvoy, in response to questions by school board members, said that the district would save about $46,408 by taking this action.
The board unanimously approved the resolution.
During his report, superintendent Scott Smith again spoke about use of the school buildings in the district. Cassadaga Elementary has a capacity of 510 students. Currently 97 are enrolled; 17 of whom are half day pre-kindergarten students.
Sinclairville elementary has a capacity of 500. Currently 372 are enrolled; 30 of whom are half-day pre-kindergarten students.
The middle/high school has a capacity of 800 students. Current enrollment is 588. The middle school (grades 6 through 8) has 235 students and the high school has 353.
Last month, Smith was asked if the Sinclairville elementary building could absorb the students from Cassadaga. Smith said the answer was yes and explained it was possible because of the number of half-day students.
No further comment was made by the board or the superintendent concerning any plans to deal with the situation.
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