New Canaan BOE approves $50K for financial consultant
The New Canaan Board of Education approved hiring a consultant to review financial and accounting practices and compliance issues for the district.
"Just as we do with curriculum, this is a review of our current practices and financials," Superintendent Mary Kolek said. "It's good to have an outside firm give guidance on how we report."
J.H. Cohn Consulting will receive a letter of engagement, essentially a contract, for up to $50,000 to review the entire budget and fiscal process, especially concerning the special education fund, which showed a $4.5 million surplus last spring.
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"I'd like to find out where we're not compliant in accepted accounting practices," said Board member Jim Kucharczyk, referencing the surplus, which was part of a grant fund.