JPS Board Approves 2012-13 Audit Report

A clean audit report from Buffamante, Whipple and Buttafarro, P.C. has been met with the approval of Jamestown Public Schools’ Board of Education.

On Tuesday, the board approved the financial statements and supplementary information for the fiscal year, which ended June 30, as presented by David DiTanna, a CPA, CIA and CGFM with BWB.

“At the end of the day, for a district your size, you’re doing some good things,” DiTanna said. “The difficulty with this audit is that when we perform our test, even if we find an isolated situation, we’re required to report that within this audit document. So, it’s a pretty high threshold. And I’m pleased to report that you did, in fact, comply with the requirements and, in addition to that, we had no items with respect to federal dollars that are required to be reported to the federal government. That’s fantastic.”

According to Dale Weatherlow, assistant superintendent for administration, the audit report is indicative of responsible spending on the part of JPS.

“I think it bodes well for us,” Weatherlow said. “We try our best to make sure that we keep all our t’s crossed and i’s dotted, and make sure everything is being spent the way it’s supposed to be spent. And, obviously, now the independent audit has confirmed that that is indeed the way we handled business locally.”

In other business, a number of financial matters were considered and approved, including bids, change orders, budget transfers, the aforementioned BWB independent audit and financial reports. Of the financial reports, Weatherlow compared the current numbers against his expectations into early 2014.

“As of these reports, we’re at about $1.4 million in revenues above expenditures,” he said. “That’s relatively normal right now, but as of today we’ve received a couple more fairly significant state aid checks of STAR and lottery state aid, and we’re still getting some tax revenue in. So we would certainly expect that our revenue would exceed our expenditures from this point through, at least, the end of January.”