Auditors report favorably on school districts

By Janet Hefler - January 31, 2008

The Martha's Vineyard Regional High School (MVRHS) district and Up-Island Regional School District (UIRSD) received high marks from auditors in financial summaries presented to the district school committees in back-to-back meetings at West Tisbury School last week.

Chris Rogers, a certified public accountant with Sullivan, Rogers and Company, said that the auditors' opinion on both districts' financial statements was unqualified, and the best opinion possible.

The auditors' management letters to the two school districts did include recommendations for improvements in several areas. Both school districts were advised to develop and implement a risk assessment and monitoring program to safeguard assets, and to prepare for new government accounting and financial reporting requirements for health insurance benefits to qualified retirees.

The auditors also suggested that the two school districts develop and implement a disaster recovery plan, including arrangements for protecting files and storing backup data and programs not only off-site, but off-Island.

Both districts were advised to implement a system to maintain and update their capital asset databases. Amy Tierney, assistant to the superintendent for business affairs, said in a phone call yesterday that training days with the auditors have been scheduled and that such a system should be up and running for the districts in March.

The auditors also recommended bringing the high school's culinary arts program into compliance with a law that limits revenues to $15,000 (derived from the program's sales). During FY07, the fund's revenues totaled $36,179 and its expenditures $31,363 . Martha's Vineyard Regional High School principal Margaret (Peg) Regan said she and vocational, career and technical director Jeff Rothwell will contact other high schools with culinary arts programs to find out how they manage their revenues and expenditures.