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.