The results of the Neshaminy School District’s 2015-2016 fiscal year audit were presented last week.
Edward Furman, a partner at Maillie LLP of Montgomery County, briefed the public and school district officials and stated there was “nothing negative to report.”
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The audit looked at internal control systems, assets, cash and investments, debt, revenues, expenditures and other data.
According to the audit, the district had a $40 million general fund balance and spent just under $180 million over the fiscal year, which ran from July 1, 2015 to June 30, 2016.
One liability for the district, according to Furman, was the growing amount of money public school systems are mandated to put toward the Pennsylvania State Employees’ Retirement System (PSERS.)
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The PSERS contributions have been on Neshaminy’s radar now for several years and have played a role in the way the district budgets.
