SINCLAIRVILLE - There are no issues with Cassadaga Valley Central School's finances, according to a recently completed audit.
Wayne Rishell, an independent auditor from Buffamante Whipple, P.C., presented information to the board and the public about the three audit reports he prepared for the district. According to generally accepted accounting principles, Rishell said he could give a "clean unqualified opinion." That is good news for the district because it means he has full faith and confidence in the numbers presented.
Rishell also audited special funds: IDEA (Individuals with Disabilities Educational Act), the lunch program, and the education jobs fund. Rishell said that audits of those funds went well.
"There was nothing (adverse) that we needed to report," he said.
During Rishell's presentation, he showed a line graph tracking expenses and revenues over a number of years.
"If you don't remember anything else, remember this graph," he said. "The revenues and expenses matched very well. Administration is able to manage expenses well. This is not an easy job."
The school board passed a motion to refinance bonds coming due in 2013 through 2015. The amount is not to exceed $2.4 million. Refinancing means the district will save about $46,408 on its debt service, according to Debra McAvoy, business manager.
During his report, Scott Smith, district superintendent, again spoke about use of the school buildings in the district. Cassadaga Elementary has a capacity of 510 students. Currently 97 are enrolled; 17 of whom are half day pre-kindergarten students. Sinclairville elementary has a capacity of 500. Currently 372 are enrolled; 30 of whom are half-day pre-kindergarten students. The middle/high school has a capacity of 800 students. Current enrollment is 588. The middle school (grades 6 through 8) has 235 students and the high school has 353.
In October, Smith was asked if the Sinclairville elementary building could absorb the students from Cassadaga. Smith said the building can handle the students from Cassadaga because of the number of half-day students.
No further comment was made by the board or the superintendent about the issue.