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WEDC Audit Committee reviews BOCES lease items, accounting line questions and notes absence of donation policy
Summary
WEDC’s audit was presented by EFPR Group March 24, 2026; the committee confirmed rent and capital improvement lines relate to a BOCES lease, discussed consolidation of a 'Bad Debt and Collection Costs' line and where attorney collection costs are recorded, and heard that WEDC lacks a donation policy.
The WEDC Audit Committee convened March 24, 2026 in Lyons for a presentation of the audited financial statements by Maura Sprague and Jason Piper of EFPR Group. Chair Julie DiLella asked whether rent and capital improvement lines apply to the BOCES lease; Director Brian Pincelli confirmed they do. The audit received no substantive exceptions from the committee.
Committee members pressed staff on accounting presentation: DiLella asked whether 'Bad Debt and Collection Costs' should be separate line items; Sprague said that category is a consolidated chart-of-accounts grouping, and attorney costs for collection letters are recorded under general and management legal costs. DiLella also asked whether WEDC has a donation policy; Deputy Director Katie Bronson said WEDC does not currently have a donation policy and suggested the topic could be discussed with the Governance Committee. The committee recommended board approval of the audit and submission of WEDC’s PARIS reports.
