School districts must have internal controls in place to ensure that:
- a) The goals and objectives of the District are accomplished;
- b) Laws, regulations, policies, and good business practices are complied with;
- c) Audit recommendations are considered and responded to:
- d) Operations are efficient and effective;
- e) Assets are safeguarded; and
- f) Accurate, timely and reliable data are maintained.
The Niskayuna Central School District’s governance and control environment will include the following:
- a) The District’s code of ethics addresses conflict of interest transactions with Board members and employees. Transactions that are less-than-arm’s length are prohibited. Less-than-arm’s length is a relationship between the District and employees or vendors who are related to District officials or Board members.
- b) The Board requires a written response for issues reported in the Certified Public Accountant’s (CPA’s) management letter, audit reports, the Single Audit, and consultant reports.
- c) The Board has established the required policies and procedures concerning District operations.
- d) The Board routinely receives and discusses the necessary fiscal reports including the:
- Treasurer’s cash reports,
- Budget status reports,
- Revenue status reports,
- Monthly extra-classroom activity fund reports, and
- Fund balance projections (starting in January).
The District has a long-term (three to five years) financial plan for both capital projects and operating expenses.
- f) The District requires attendance at training programs for Board members, business officials, treasurers, claims auditors, and others to ensure they understand their duties and responsibilities and the data provided to them.
- g) The Board has an audit committee to assist in carrying out its fiscal oversight responsibilities.
- h) The District’s information systems are economical, efficient, current, and up-to-date.
- i) All computer files are secured with passwords or other controls, backed up on a regular basis, and stored at an off-site or in a secure fireproof
- j) The District periodically verifies that its controls are working efficiently.
Annually, the District receives audit reports from the External (Independent) Auditor and periodically from the Office of the New York State Comptroller. The Board will review all audit recommendations in consultation with the Audit Committee and respond appropriately. Independent and Comptroller audit reports and the accompanying management letters will be made available for public inspection.
8 NYCRR Section 170.12
General Municipal Law Section 33(2)(e) and 35(1)(2)
Adopted April 7, 2020