External Auditors from R.S. Abrams Co., LLC, gave their annual report to the Oyster Bay-East Norwich Board of Education on Tuesday, Oct. 20, and issued an “unmodified” rating for the district on the June 30 financial statements. Unmodified is the highest rating a district can receive and it means that financial statements give a true and fair view and are free from material misstatement and no modifications are necessary.
The report said the district’s unassigned fund balance is currently at 4 percent and all the reserve funds remain adequately funded.
Assistant Superintendent for Finance & Operations Stephen Valente updated the community about the bond proposal that will be up for a community vote in December.
“The proposed bond breakdown is in two key areas, with a total cost of $7, 816,791,” said Valente. “The areas included are the art and music wing expansion in the high school and security enhancements.”
The scope of work included in the security enhancement segment is reconstruction of the enclosed main entrance vestibules, installation of additional security cameras and an upgrade of the security card reader system for entry access.
In the high school, restoring general instructional classroom space on the second floor, completing air conditioning installation in the auditorium, renovating the digital art room and installation of state-of-the-art sound recording systems for music space are all projects in the works. Other projects of a smaller scope are also included in the list, which can be found on the district website www.obenschools.org.
The next board of education meeting will be held on Tuesday, Nov. 3, at 7 p.m.
