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Canton Central receives clean audit

Posted 10/22/20

BY MATT LINDSEY North Country This Week CANTON -- Canton Central School received a clean audit at its Thursday night school board meeting. This year the audit was completed remotely due to COVID-19, …

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Canton Central receives clean audit

Posted

BY MATT LINDSEY
North Country This Week

CANTON -- Canton Central School received a clean audit at its Thursday night school board meeting.

This year the audit was completed remotely due to COVID-19, according to Lyndi Hill of Bowers & Company CPAs PLLC, who completed the audit.

Hill went over details of the audit with board members at the Thursday night meeting.

“In your general fund this year you saw a fund balance, the unassigned percentage in terms of the real property tax law, has increased to 4.12%,” Hill said. It was 1.8% in 2019.

CCS reserves are at $1.1 million, or 23% of the fund balance.

“The increase this year is really due to your general fund expenditures coming in $3.25 million under budget, mostly that’s attributed to a change in your health insurance plan which saved you over $1.5 million dollars,” Hill said.

Hill said that going forward the district should not expect to see significant savings related to the change in health care.

The audit was for financial statements for June 30.

To watch the complete audit and board meeting, click here.