ALBANY – An audit of the fixed assets in the Rondout Valley School District found officials did not properly account for and monitor those assets.
As a result, the audit said there is an increased risk fixed assets could be lost, stolen or misused.
The audit was for the period of June 30, 2020, through October 26, 2022.
Of the 80 fixed assets totaling $868,681 auditors reviewed, 64 assets totaling $549,177 were not properly accounted for or monitored.
State testing found 34 fixed assets with a combined cost of $55,775 did not have the required asset tags. Twelve fixed assets with a combined cost of $213,960 could not be located, including a $22,600 French horn, a $6,310 snowplow, and an internet filter costing $4,320.
Also, 18 fixed assets with a combined cost of $79,383 were not recorded on their district’s inventory list, including a golf cart costing $12,585.
Seven additional fixed assets with a combined cost of $8,230 were disposed of without proper approval.
The audit recommended maintaining accurate inventory records, and ensuring fixed assets are tagged and are in the locations indicated on the district’s inventory list. And obtaining authorization to dispose of fixed assets before disposing them.
District officials generally agreed with the state’s finding and indicated they plan to initiate corrective action.
The Rondout district serves the towns of Marbletown, Rochester, Rosendale and Wawarsing.
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