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Board of Finance presses for fuller Board of Education financial reporting after audit flags misstatements
Summary
Board members raised discrepancies between the city and Board of Education performance reports and noted auditors flagged an uncorrected misstatement of roughly a quarter-million dollars; members asked staff to present consolidated grant/expenditure reporting during budget season and to assess potential bond-rating effects.
Torrington — Members of the Board of Finance on Jan. 21 questioned why Board of Education performance numbers in city reports did not match the board of education’s internal figures and urged clearer consolidated reporting, citing a recently issued audit that lists an uncorrected misstatement.
Board member discussion began after the board accepted performance reports. Mr. Bayes and other members noted that the city’s department-level general-fund report for the Board of Education (department 46) did not reconcile with the Board of Education’s program expenditures. The board’s finance…
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