Audit Reveals Gowanda Central Overestimated Expenditures By $6.2 Million

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.

 

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