MOUNT PLEASANT, N.Y. -- Five years ago Mount Pleasant was flagged by the State in its audit of the financial controls of the District. Under a new administration, the District is now financially stable and in good standing.
The State Comptroller's audit report on the financial condition of the Mount Pleasant Central School District was made available in July and the district is pleased to report that the report was positive and contained no corrective action items.
In a report released this July, the New York State Comptroller’s Office reported that the Mount Pleasant Central School District is fiscally stable, requiring no corrective action other than for officials to continue to monitor its financial condition to maintain fiscal stability.
The audit was conducted this spring for the period of July 2013 through January 2015 to determine whether there was effective oversight of the district’s financial picture. The auditors extended the scope of their audit to July 2009 to examine the district’s fund balance, budgeting and financial trends.
The report found that school district officials “adequately monitored the District’s financial condition to maintain fiscal stability.” It also noted that from 2009-10 through 2013-14, the accumulated fund balance in the general fund increased from $6.6 million to $9.8 million.
“Through tight internal controls and conservative budgeting, the district has been able to increase the accumulated fund balance over the past five years by $3.2 million,” said Superintendent Dr. Susan Guiney, who added that district budgets have stayed within or below the tax cap since 2010.
She noted that the increased reserves help the District by improving its credit rating, cash flow and borrowing rate. The larger reserves also help to eliminate the need for short-term borrowing, which could increase costs to taxpayers. In addition, the audit report found no items that the District needed to address.
“That the comptroller’s office found no corrective action needed to be taken indicates that the District’s financial practices are sound,” said Dr. Guiney.