The independent external audit of the finances of the OBEN school district were laid out at the school board meeting on Tuesday, Oct. 21 by a representative from the external auditing firm of RS Abrams & Co, LLC. The district received the highest possible rating of “unqualified,” meaning that the financial statements give a true and fair view in accordance with the financial reporting framework used for the preparation and presentation of the financial statements. CPAs Charles Scheid and Lisa Thomas-Hart were on hand to deliver the external annual auditor’s report.
“The business office has the district in a strong financial condition,” said Scheid.
Scheid also added that the district was “very smart for establishing reserves in light of the tough fiscal times” and that the ERS (Employee Retirement System) reserve had been increased and that the reserves for unemployment and insurance were good.
In addition, the auditors pointed out that the district’s handling of the capital reserve was very good and that it is a good way to fund facilities improvements without going into financial debt.
The auditor’s presentation can be found on the school district’s website.
Other News:
School Superintendent Dr. Laura Seinfeld said that speed cameras are coming to Oyster Bay in the near future. The cameras will be placed off Route 106 near the Vernon School.
“For years, community members have been asking the board to do something about speeders who race past the Vernon School on 106,” said Dr. Seinfeld. “Soon people who ignore the school speed limits in Oyster Bay–East Norwich will have to pay up.”
Oyster Bay High School Principal Dr. Dennis O’Hara and his staff were praised by the board for rolling out the Parent Edge program ahead of schedule. The Parent Edge is a program that keeps parents informed of their child’s homework and other assignments. The program is currently in an evaluation phase to see if it is successful enough to expand the service to the elementary schools.
The next board work session will be held at 8 p.m. on Tuesday, Nov. 4 and the next business meeting will be held on Tuesday, Nov. 18 at 8 p.m.
