CHATHAM – The Chatham Central School District should adopt realistic appropriations estimates in its budgets, according to the findings of an audit by the state Comptroller’s Office.
Auditors found the district realized operating surpluses because the
board of education overestimated expenditures when developing budgets.
They also found the district has not established a formal plan stating
how much will be set aside in each reserve, how each reserve will be funded
or when reserve funds are to be used.
State investigators said the school district should establish appropriations estimated in their budgets and develop comprehensive policies for establishing and using reserve funds.
The district, with a budget of $29.5 million, includes the Town and Village of Chatham, and the towns of Ghent, Canaan, Austerlitz, Kinderhook and New Lebanon in Columbia County.
