Montgomery schools get high grade in audit

A clean bill of health for 2004-2005 finances

By: David Campbell
   MONTGOMERY — Auditor Robert Swisher has given the township school district a clean bill of health — at least where the district’s 2004-2005 finances are concerned.
   Mr. Swisher, an auditor with Westfield-based firm Suplee, Clooney & Co., appeared before the Board of Education on Tuesday night to present the findings of a comprehensive audit, prepared in cooperation with the school administration, of district revenues and expenditures for 2004-2005.
   The report the auditor presented was called a Comprehensive Annual Financial Report, or CAFR. Typically, CAFRs seek to give a picture of actual revenues and spending as compared to budgeted figures — in this case, those projected in the 2004-2005 school budget.
   Among Mr. Swisher’s recommendations were that all money collected be deposited in a timely manner and that all expenditures be properly documented. He also recommended the district reference state guidelines for proper classification of expenditures.
   Board President Richard Specht indicated following Tuesday night’s meeting that he was encouraged by the auditor’s favorable assessment of the district’s financial performance.
   "I was gratified to receive such a positive audit report after an extensive review of the district’s business operations," Mr. Specht said.
   During his presentation, Mr. Swisher also noted that a portion of the district’s fund balance must be applied toward property-tax relief for district residents in the next school budget.