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School Audits Come Back Clean

Thu, 10/21/2021 - 09:20

The Springs and Amagansett School Districts have earned good grades on their finances from the EFPR Group, an independent auditing firm that evaluated both over the summer.

The two districts received unmodified opinions, the best possible outcome, with no material weaknesses. In Amagansett's case, the only issue identified by auditors was the amount of "unassigned" surplus money that schools can hold on to from the previous year's budget. The state's limit is 4 percent. Amagansett had just under 14 percent. Springs came in at 4 percent.

This year, in light of the Covid-19 pandemic, many schools across the state deliberately held on to that extra money to prepare for any unexpected costs they may face.

Seth Turner, the Amagansett superintendent, said by phone last week that those unanticipated costs added up to "more than anyone could have projected at that time," adding that nevertheless, the surplus "needs to be looked into."


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