FREEHOLD – No recommendations for corrective action were made following the most recent audit of the Freehold Borough K-8 School District’s finances and financial record keeping.
The Board of Education has accepted a comprehensive annual financial report (audit) for the 2018-19 school year. The fiscal year covered by the audit ended on June 30, 2019.
In accordance with state law, the governing body of every municipality and school district must conduct an annual audit of its books, accounts and financial transactions. The school district’s audit was conducted by Samuel Klein and Company.
Board members accepted the audit and acknowledged there were no recommendations arising from the firm’s review of the school district’s financial operations. Because no recommendations were made, no corrective action plan for 2018 or 2019 was required or necessary.
During a meeting on March 2, board members requested the approval of a capital reserve withdrawal of up to $17,400 for 120 replacement light fixtures in 10 classrooms in the fifth grade wing of the Park Avenue Complex, which houses the Park Avenue Elementary School and the Freehold Intermediate School.
Board members also requested the approval of a capital reserve withdrawal of up to $6,500 for the replacement of cabinetry and a sink in the nurse’s office of the Freehold Learning Center elementary school.
Finally, the board accepted a $4,325 donation from the Freehold Borough Education Foundation to purchase outdoor furniture for the Park Avenue Elementary School.
