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Commission approves budget amendment resolving Oakland Avenue Charter School audit finding
Summary
Commission adopted Resolution 2025-12 to amend the Oakland Avenue Charter School budget after auditors flagged post‑fiscal year recognition funds that caused individual line‑item overspending; the amendment brings the school into compliance and places remaining funds into reserves.
The Town Commission approved Resolution 2025‑12 on Oct. 28 to amend the fiscal‑year budget for Oakland Avenue Charter School after auditors identified that recognition funds had been recorded and spent after year end.
Staff explained the auditors required a post‑year amendment to remain in compliance with auditing regulations. Town staff said the school received about $108,000 in recognition funds tied to an 'A+' status; that amount cleared an identified $94,000 overspend in specific line items and left the residual funds to be placed into school reserves. Town contracted CPA Mike Brynjolfsen assisted in preparing the amendment.
Town staff said the amendment is intended as a housekeeping measure to align the school’s reported expenditures with accounting requirements; staff also said going forward they will complete any required school budget amendments within 60 days of the school's fiscal year end.
The commission moved, seconded and voted to adopt the resolution.
Next steps: staff will present any future amendments in advance of audits when required by timing.
