NEWBURGH – An audit by the state comptroller’s
office found the Newburgh Preparatory Charter High School Board did not
receive adequate monthly financial reports or establish a sound budget
process.
Classes began at the school, the first and only charter school in the
Hudson Valley, in September 2013.
In a review of financial operations and disbursement processes for the
period of July 1, 2013 through June 30, 2014, found the board did not
obtain a required independent audit of the school’s financial reports
and that the director of finance and operations did not properly perform
monthly bank reconciliations. Not all payments were properly documents,
the report said.
Key recommendations of the audit said the school should ensure that financial
records and reports are prepared and presented to the board and establish
policies and procedures that ensure monthly budget monitoring.
It also said the school should contract with an independent auditor to
perform the annual audit of the financial statements; ensure that bank
statements are reconciled to the accounting records monthly; and ensure
that claims are properly itemized and contain sufficient documentation.
School officials said they would implement as many of the recommendations
as possible give the size of the school’s operations.
