Luzerne County Deficit Increases By $6.4M, Audit Says

Map of Pennsylvania highlighting Luzerne County

Map of Pennsylvania highlighting Luzerne County (Photo credit: Wikipedia)

Luzerne County Council heard two unpleasant updates Tuesday: the deficit grew to an estimated $10.1 million at the end of 2013 and repayments have skyrocketed on an inherited 2006 debt refinancing package.

The deficit increased because spending exceeded revenue by $6.4 million last year, said Andrea L. Caladie, a CPA with Baker Tilly Virchow Krause, LLP, during a draft audit summary presentation.

The fund balance is now a negative $10.1 million because the county carried over a $3.7 million deficit from 2012, she said.

The audit was due June 30 under the county’s home rule charter. County Budget/Finance Division Head Brian Swetz has blamed staffing shortages on delays compiling information the outside auditors needed to complete their work.

Read more: http://www.timesleader.com/news/news/50746020/

State Auditor General Rips Reading School District

Map of Berks County, Pennsylvania, United Stat...

Map of Berks County, Pennsylvania, United States Public School Districts (Photo credit: Wikipedia)

They very well may be the worst accounting practices in the state.

That was Pennsylvania Auditor General Eugene DePasquale‘s assessment of the financial situation in the Reading School District, which he shared during a press conference Friday in Reading.

“To be direct,” he said, “the Reading School District has failed its students, failed the children of Reading.  It has failed the taxpayers.”

DePasquale was in the city to release the findings of a major audit his department did on the school district.  The audit was the result of requests by local legislators to investigate the district following the discovery of a more than $15 million accounting error in December.

Read more:  http://readingeagle.com/article.aspx?id=474980