Audit provides good news for PT board
An audit of the Penn-Trafford School District showed no problems with the district’s financial books in 2004.
Brent Filak, manager for Sarp & Co., of Greensburg, discussed the audit with school directors at Monday’s information-committee meeting.
Filak said the district’s net assets check in at $7.5 million. He was encouraged that the district’s fund balance — which is $1 million — increased for the first time this decade.
That figure is $593,000 higher than a year ago. “The district did do a good job of getting that number up some,” Filak said, adding he’d like to see a higher number.
“The rule of thumb is 5 percent of your expenditures and revenues, (which) would put you a bit higher than that. Certainly, this was an improvement from the prior year.”
Filak said his company made a recommendation that the district’s buildings activity’s accounts be more uniform “to get everybody on the same page.”
Brett Lago, the district’s business manager, was pleased with the audit.
“We’re going in the right direction,” Lago said after the meeting. “The fund balance, after years of decreasing, is increasing.”
Meanwhile, the board unanimously approved an operational audit to be performed by the Department of Education.
Lago said he and Superintendent Dr. Deborah Kolonay met with education department representatives about what the district feels is inadequate funding from the state.
“They indicated they would gladly come out and help us do an operational audit that would look at all district from all aspects, personnel, building and grounds, etc., to see how efficient we were,” Kolonay said. “They will spend approximately a week here, go through all of our documentation, leave us with a binder of charts and information that will help us as we go forward with any future building needs, personnel needs, etc. We thought it was a very good idea.”
Kolonay said the audit would be performed within the next couple of weeks. There is no cost to the district.
Lago is confident the audit would show the district is operating effectively and would strengthen its case that the funding received from the state is inadequate.