Bohemia, NY (PRWEB) January 24, 2013
On January 24, 2013, Diapoules & Feinstein CPAs P.C. respond to a WFMZ News article regarding an accounting error costing the Reading School District $15 million.
According to the WFMZ News article, “An accounting error has left the Reading School District millions of dollars short in its current budget, state officials told 69 News on Friday.” The article states that this blunder may cause the District to not be able to make their payroll payment come March. This news means that thousands of employees may not receive a paycheck.
Union president, Bryan Sanguinito, is quoted in the article as stating, "We will do everything in our power to make sure that we allow our teachers to be able to come into work to teach our students because our students deserve to learn."
The article mentions that the school board president, Robert Heebner Jr., insisted that employees will be paid and that there was an error back in 2010 that will take some time to fix. The school district was already being hampered by a $40 million budget gap that eliminated 100 positions and raised taxes, states the article.
Long Island accounting firm, Diapoules & Feinstein CPAs P.C., comment on the article with their thoughts on the detrimental error. According to Jim Diapoules, "What is disturbing is that this news report states the error was made in an audit of the District’s finances. One wonders why this error occurred and could the auditor fees for the audit been too low. This case may be similar to what has occurred in different parts of the country, the auditors giving away the audit for a chance to earn higher fees on different services they offer the District.”
Diapoules and Feinstein CPAs P.C have been providing accounting, auditing and tax services to Greater New York City area since 1989. D&F provides our clients with great personal attention and years of professional experience in order to see them succeed and help them to feel confident.