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Audit says Genesee Valley School overestimated appropriations by a total of $2.7 million

The New York State Comptroller's Office recently conducted a financial management audit of the Genesee Valley Central School District. This is a summary:

The board overestimated appropriations by a total of $2.7 million from 2016-17 through 2018-19 and annually appropriated $225,000 of fund balance that was not used to finance operations. As of June 30, 2019, surplus fund balance totaled over $1 million and was 6 percent of 2019-20 appropriations, exceeding the statutory limit by approximately $354,000 or 2 percent. Auditors determined, that the district’s written reserve fund policy was not comprehensive and three reserves with balances totaling $1.3 million were generally not being used.

You can read the complete report HERE.
School Superintendent Dr. Brian Schmitt had this response:




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