Hancock Central School District News Article

HCS reports healthy financial standing

The Hancock Central School District Board of Education reviewed and approved the external audit for the 2020-2021 school year during open session at its October 25th meeting.

Raymond G. Preusser, CPA, virtually presented the external audit report, a comprehensive review and assessment of the financial activities undertaken by the school district during the 2020-2021 school year. Mr. Preusser reported that “HCS is in a healthy financial position as of the close of the 2020-2021 school year and for the immediate future.”

Hancock CSD campus (file)No reportable conditions, qualified comments, nor material weaknesses were cited in the general fund report, but Mr. Preusser noted that uncertainties with the New York State budget, largely attributable to the ongoing COVID-19 health crisis, could present serious financial challenges for the District moving forward. The audit report also noted the District must more accurately monitor and manage cash deposits in the extra classroom fund.

Board of Education President Terry Whitt praised the outcome of the audit report but agreed with Mr. Preusser that “the District takes tremendous pride in being responsible guardians and caretakers of taxpayer funds.”

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 an extremely complex fiscal operation.” Dougherty added: “The District must continue to maintain a strong cash position moving forward, especially given the economic uncertainly we are facing moving forward due to the COVID-19 public health crisis.”

The 2020-2021 HCS External Audit has been posted on the District’s online Financial Disclosure page at
https://www.hancock.stier.org/financialdisclosures.aspx. Hard copies are available upon request during regular business hours. Requests should be directed to District Clerk Tammi Wadeson.

Posted 12/1/2021

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