Loc: Fourth Estate
Geneva City School District - Reserves (2018M-51)
- Determine whether the Board reasonably and transparently financed reserves.
- The Board has not adopted a reserve policy.
The Board did not include provisions to fund reserves in its annual budgets.
Seven reserves with balances totaling $9.4 million (72 percent of total reserves) are overfunded by $7.8 million and potentially unnecessary.
Released: June 22, 2018 -- [read complete report - pdf]
The Board should adopt a reserve policy.
Appropriately budget to fund reserves.
Determine if the amounts reserved are necessary, reasonable and in compliance with statutory requirements.
Local Government and School Accountability Contact Information:
Phone: (518) 474-4037; Email: firstname.lastname@example.org
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236