Freehold Borough School District Gets High Marks in Annual Audit

The Freehold Borough School District is in good shape for the upcoming year, according to the district's auditor. Gerald Stankiewicz, an accountant with Samuel Klien and Company, presented an overview of the 2010-2011 year-end audit to the members of the Freehold Borough Board of Education at the Dec. 12 meeting.

“I am happy to report that based on our audit testing we have a clean audit opinion and no audit recommendations,” Stankiewicz said.

According to Stankiewicz, the business office is operating the way it should be. “We’re comfortable, and you should be comfortable too that the business office is operating the way it should be. Everything is being paid properly and timely,” said Stankiewicz

The presentation detailed how the school district came to have a clean audit through testing and through proper business office operations. Two booklets were also given to the board. One outlined the business administration and the other was Stankiewicz’s representation to the board on compliance to laws, payroll and student activities. Through testing revenues, payroll and expenditures, Samuel Klien and Company were able to make sure that all disbursements were properly documented, Stankiewicz said.

“A clean audit sounds easy, but it is a big accomplishment for a school district or municipality to have a clean audit,” said board member Jim Keelan.    

Now with a clean audit and no audit recommendations for the 2010-2011 school year, the Freehold Borough Board of Education can head into the upcoming 2012 year without any residual charges or financial issues from the year before, Stankiewicz said.