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Schools

District Earns High Grades in Annual Audit

Independent review reflects 'a good state of affairs financially'.

The WHRHS school district has earned high marks in its annual audit.

Gary Vinci, of the independent auditing firm of Lerch, Vinci & Higgins, LLP, reported to the board of education Monday night that the district received “clean” opinions in its financial operations and compliance matters for the year ending June 20, 2011.

The auditors also had no recommendations for corrective action.

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“This audit is a very important tool for this board—it is the first time in the five years I’ve been on the board that we’ve had no recommendations," Board member Paul Seelig said. "It gives some sense that we have a good state of affairs financially in this district. We still have a lot we have to do but at least we know where we are financially.”

Vinci explained that, while the audit indicates a surplus of over $3.7 million, all but $650,000 is earmarked for such items as various reserve accounts, including $1.1 million in capital reserves.

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Earning the “clean” designation for following statutory requirements, Vinci said, is “very commendable for the administration.”

He noted that a few years ago the district had as many as 10 recommendations for corrective action in various areas, including the cafeteria and student accounts. The fact that there are no recommendations in this year’s audit indicates correction action has been taken, he added.

“The overall financial management operations is the best it can be,” Board Vice President Harold Grossnickle, who chairs the Finance Committee, said.

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