Board Accepts External Audit Report

Susan Barossi of O'Connor Davies presented the Bronxville Board of Education with the external audit for the fiscal year 2012-13.  The presentation can be found here. The audit team gave the District an unmodified opinion, the best rating a public school can achieve. Board member Jeffrey Rohr explained that the report had been previously reviewed by the audit committee.

Barossi emphasized the value of maintaining reserves as a hedge against unforeseen circumstances, praising the Board for its capacity to preserve fund balance and maintain a positive bond rating. She praised the Board for "ending in a very healthy position in a very difficult economy." This past year the District has used these funds to reduce the tax levy by $950,000. Fund balance at the end of the year totaled 9,444,594.In addition, the Board has transferred surpluses to a facilities reserve to support future capital improvements.