Rensselaer Schools Pursues $3m In Uncollected Cash

When Rensselaer City School District officials tried to find out why a $400 repair bill from a school bus accident went unpaid for two years, they discovered a multimillion dollar problem. On Friday, the state comptroller's office released its findings of an audit of the district's finances for the last four years. The state audit of the district finances from July 1, 2012 through May 31, 2016 found the district's budgets were unrealistic, funds were inappropriately transferred between accounts, the school board did not receive the necessary financial information to provide oversight and the district didn't do multiyear financial planning. Shields and Mooney said the district relied on Burke's expertise in handling school finances to provide accurate information on which to base decisions and draft annual budgets. Heimroth is providing up-to-date financial reports to the school board, and the district is refinancing its construction bonds to cut expenses and developing long-range financial planning. Shields said the district has applied for state reimbursement on about $300,000 for the school buses and $1.2 million in building aid.

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Topics:  New York   Albany County   Albany   
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