COVENTRY, RI — RI Auditor General David Bergantino has sent a formal letter asking for a meeting with Municipal and School officials, including Council and School Committee representatives, to deal with mounting Coventry school deficits.
In the letter, sent Wednesday, Bergantino references Coventry Schools Finance Director Chris DeVerna’s Sept. 10 letter to the Auditor, revising the cumulative fund balance deficit for FT24 to $5 million.
“The budget to actual 2 (quarter 3) reporting, required by Rhode Island General Law (RIGL) Sectiion 45-12-22.2, submitted to the Division of Municipal Finance, projected a fiscal 2024 operating deficit (net change) for the School Unrestricted Fund of approximately $822,000.That submission and deficit acknowledgement prompted our letter dated May 2, 2024. The recent communication from the School Director of Finance, dated Sept. 10, 2024, substantially increases the projected fiscal 2024 operating deficit to approximately $2.5 million,” he wrote.
Further, the Auditor expressed, “significant concerns,” given the FY22 audited financial statements reporting a higher-than expected $1.4M fund balance deficit in the School Unrestricted Fund and the Schools-projected unaudited operating Coventry Schools deficits of $971,000 and $2.5 million for FY23 and FY24.
“Late audited financial statements combined with the inability to provide consistent and accurate financial reporting has rapidly resulted in a considerably more significant financial issue that must be promptly and comprehensively addressed. Formalized corrective action plans are required to be submitted to address and eliminate the Schools’ known and projected deficits in accordance with RIGL Sections 16-2-9(f) and 45-12-22.2(e). To facilitate a comprehensive discussion, we are requesting an in-person meeting with Town, School and State officials.”
“The objective of this meeting will be a dialogue on immediate actions needed to prevent further school operating deficits and the next steps in the Town and Schools development of a corrective action plan to address the currently projected deficit.”
James LeBlanc, Coventry Town Council Dist. 3, has asked to be in the meeting to address the Coventry schools deficits.
“I have formally asked the Town Council President and Town Manager that I be one of the Town Council representatives to attend the in-person meeting requested in the letter above,” Le Blanc wrote on his Facebook page Thursday. Bergantino-Coventry-Schools-Deficits
Author: Rob Borkowski
Rob has worked as reporter and editor for several publications, including The Kent County Daily Times and Coventry Courier, before working for Gatehouse in MA then moving home with Patch Media. Now he's publisher and editor of WarwickPost.com. Contact him at [email protected] with tips, press releases, advertising inquiries, and concerns.
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