The statement made by the Franklin School Committee regarding the budget shortfall just revealed as read by Chairperson Jeffrey Roy at the meeting 11/27/07
Time: 2 minutes, 53 seconds
MP3 File
an image version of the statement is available here
the text version of the statement is available here
Tuesday, November 27, 2007
School Committee Statement 11/27/07 (image)
A image of the statement as read by Chairperson Jeffrey Roy Tuesday night at the School Committee meeting regarding the financial discrepancy just discovered.
School Committee Statement 11/27/07 (text)
Statement for November 27, 2007 Meeting
During the process of closing the financial books for the 2007 fiscal year, the Town Comptroller discovered irregularities in the school district’s accounts. Specifically, several 2007 expenses were charged against the 2008 budget. This practice is not allowed under Massachusetts Municipal Finance Law.
The Franklin School Committee, in conjunction with the Town Council, immediately ordered a complete legal and financial review of the circumstances surrounding these irregularities. Our effort includes an independent professional audit covering fiscal years 2005, 2006 and 2007.
In addition, the school district’s finance director has been placed on administrative leave.
Preliminary information indicates that these accounting irregularities may result in a shortfall of approximately $590,000 in the budget for the fiscal year that ended June 30, 2007.
However, the internal review and independent audit are still ongoing and the precise circumstances of the problem will not be known until both are completed. We expect the results to be presented to the School Committee and the Town Council sometime in mid to late December.
On the advice of our attorney, the School Committee and School Administration will not discuss this matter publicly or privately until such time as the review and audit are completed. Further discussion before then could create significant budget, legal and personnel issues for the schools and the town that would jeopardize efforts to understand the full circumstances of the situation.
Members of the School Committee and School Administration take this matter very seriously, which is why we have initiated a comprehensive review and audit and took the personnel action we did. We will provide a full legal and financial accounting as soon as possible after the detailed results of the investigation are completed.
During the process of closing the financial books for the 2007 fiscal year, the Town Comptroller discovered irregularities in the school district’s accounts. Specifically, several 2007 expenses were charged against the 2008 budget. This practice is not allowed under Massachusetts Municipal Finance Law.
The Franklin School Committee, in conjunction with the Town Council, immediately ordered a complete legal and financial review of the circumstances surrounding these irregularities. Our effort includes an independent professional audit covering fiscal years 2005, 2006 and 2007.
In addition, the school district’s finance director has been placed on administrative leave.
Preliminary information indicates that these accounting irregularities may result in a shortfall of approximately $590,000 in the budget for the fiscal year that ended June 30, 2007.
However, the internal review and independent audit are still ongoing and the precise circumstances of the problem will not be known until both are completed. We expect the results to be presented to the School Committee and the Town Council sometime in mid to late December.
On the advice of our attorney, the School Committee and School Administration will not discuss this matter publicly or privately until such time as the review and audit are completed. Further discussion before then could create significant budget, legal and personnel issues for the schools and the town that would jeopardize efforts to understand the full circumstances of the situation.
Members of the School Committee and School Administration take this matter very seriously, which is why we have initiated a comprehensive review and audit and took the personnel action we did. We will provide a full legal and financial accounting as soon as possible after the detailed results of the investigation are completed.
Isabella's Menu - Page 2
Isabella's is also a good supporter of local groups and organizations. For a period of time one day during the week, they'll share a percent of the sales. As I go by almost every day coming from the train station, on most days there is a sign up for one group or another.
This is a win-win situation. Good food for a good cause!
Isabella's Menu - Page 1
Isabella's is one of the really good delis and pizza places in Franklin.
We got two full sheets of pizza for the Friday when the Sherlock's gathered at our place after Thanksgiving and did not end up with any leftovers.
Monday, November 26, 2007
Next School Committee Meeting - Tuesday, 11/27/07
Given the recent news about the shortfall discovered, Finance person suspended, investigation and audit underway; I don't think I will trust the cable network to deliver the next meeting to my door.
I plan on being there in person to hear more about what happened.
I plan on being there in person to hear more about what happened.
We are not the only Franklin!
Exploring the web, I found another Franklin Matters which covers Franklin, Tennessee.
One post on this blog shows a listing of 27 other Franklins in these United States. We are the second largest according to population:
Franklin, WI had come upon the radar during our override election earlier this year. Franklin, WI had a similar override and it failed.
One post on this blog shows a listing of 27 other Franklins in these United States. We are the second largest according to population:
- Franklin, AL - Population 149, (Macon Co.)
- Franklin, AR - Population 184, (Izard Co.)
- Franklin, GA - Population 902, (Heard Co.)
- Franklin, ID - Population 641, (Franklin Co.)
- Franklin, IL - Population 586 (Morgan Co.)
- Franklin, IN - Population 19,463 (Johnson Co.)
- Franklin, KS - Population 26,513 for the county (Franklin Co.)
- Franklin, KY - Population 7,996 (Simpson Co.)
- Franklin, LA - Population 8,354 (Parish Seat of St. Mary Parish)
- Franklin, MA - Population 29,560 (Norfolk Co.)
- Franklin, ME - Population 1,370 (Hancock Co.)
- Franklin, MI - Population 2,937 (Oakland Co.)
- Franklin, MN - Population 498 (Renville Co.)
- Franklin, MO - Population 112 (Howard Co.)
- Franklin, NC - Population 3,490 (Macon Co.)
- Franklin, NE - Population 1,026 (Franklin, Co.)
- Franklin, NH - Population 8,405 (Merrimack Co.)
- Franklin, NJ - Population 5,160 (Sussex Co.)
- Franklin, NY - Population 2,621 (Delaware Co.)
- Franklin, OH - Population 11,396 (Warren Co.)
- Franklin, PA - Population 7,212 (Venango Co.)
- Franklin, TN - Population 55,870 (Williamson Co.)
- Franklin, TX - Population 1,470 (Robertson Co.)
- Franklin, VA - Population 8,346 (Southampton Co.)
- Franklin, VT - Population 1,268 (Franklin, Co.)
- Franklin, WI - Population 29,494 (Milwaukee Co.)
- Franklin, WV - Population 797 (Pendleton Co.,)
Franklin, WI had come upon the radar during our override election earlier this year. Franklin, WI had a similar override and it failed.
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