Hancock Central School District News Article

2021-2022 HCSD External Audit Reviewed - District Reports Healthy Financial Standing

The Hancock Central School District Board of Education reviewed and approved the external
 audit for the 2021-2022 school year during open session at its October 24 meeting.

 RBT CPAs, LLC presented the external audit report, a comprehensive review and assessment
 of the financial activities undertaken by the school district during the 2021-2022 school year.

 Shannon Mannese, CPA, reported that “HCSD is in an extremely healthy financial position as
 of the close of the 2021-2022 school year and for the immediate future.” No reportable
 conditions, qualified comments, or material weaknesses were cited in the general fund report.

 That said, Ms. Mannese did note that while it reflects a sound business practice, the District’s
 unappropriated fund balance was in excess of New York State’s 4% statuary limit. Ms. Mannese
 further noted that uncertainties with the New York State budget, largely attributable to the
 stifling inflation, cost escalation, and a volatile marketplace could present serious financial
 challenges for the District moving forward.

 Board of Education President Gene Homer praised the outcome of the audit report but agreed
 with Ms. Mannese that “the District will face significant fiscal challenges in the years ahead.”
 With respect to the audit report, HCS Superintendent Terrance Dougherty commended the
 Board of Education, Treasurer Aimee Skiff, and the central office staff for “responsibly and
 efficiently managing a complex fiscal operation, but our work is not yet done.
We face significant challenges moving ahead.” Dougherty added, “The District must continue to maintain
 a strong fiscal position moving forward, especially given the uncertainly we are presently facing in the economy.”

 The 2021-2022 HCSD External Audit has been posted on the District’s website,
 Hard copies are available upon request during regular business hours. Requests should be
 directed to District Clerk Tammi Wadeson.

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